Words on wisdom: perspective transformation in a "learning in retirement institute" /

In this study, 7 men and women with an average age of 77 were interviewed regarding their experience of attending courses at a Learning in Retirement Institute (LRI) in southern Ontario. The purpose was to explore the role of wisdom in the learning of these retirees. Explicit theories of wisdom developed by selected philosophers, psychologists, and religious thinkers were compared to the implicit theories of wisdom that respondents expressed. Further comparisons were drawn between these implicit theories of wisdom and the act of perspective transformation in transformative learning. Some evidence was found that the development of wisdom compares favourably to perspective transformation, especially with regards to the behavioural changes associated with critical self-reflection. Among all the respondents, those 3 LRI stude.its who had also moderated courses indicated that they had experienced the most opportunities for critical self-reflection. These 3 also expressed deep satisfaction in having been able to put their learnings to use as teachers. A recommendation of this study is that opportunities for sharing and acting upon the results of discourse within Learning in Retirement Institutes should be implemented. In the absence of evaluation, opportunities for praxis (such as coop placements) must be developed so that students can measure their success against objective criteria and hence attach meaning to their studies.

Certificate on the occasion of Samuel DeVeaux Woodruff’s retirement from the Water Works Commission of the City of St. Catharines

Certificate measuring 64 cm. x 48 cm. on the occasion of Samuel DeVeaux Woodruff’s retirement from the Water Works Commission of the City of St. Catharines. Mr. Woodruff served the commission from 1875 to 1899. He also served as chairman of the commission. This is signed by Lucius S. Oille, George C. Carlisle and Connolly B. Hare (members of the committee), Jan. 2, 1900.

Household attributes and the future demand for retirement housing

Ageing populations provoke the question of how much bespoke housing should be provided for the elderly. Older people are generally reluctant to move but as they age health circumstances may encourage moves into specialised accommodation. This paper reports an exercise in estimating the future demand for specialised independent living housing and the extent to which that demand will be for owner occupied accommodation or renting, using data for England. The approach is based on a behavioral model related to health and housing issues. The forecasts indicate a substantial increase in demand, growing at a faster rate than the population as a whole. If supply does not rise to meet these demands, serious problems arise in the quality of life of, and cost of caring for, older people; with implications for health care and social services.

Retirement and succession on the family farm

For farmers, the decision as to when to retire is probably one of the hardest that they will have to face during their working lives. The business of farming brings special circumstances which means that retirement is more often a process than a definitive action. This paper seeks firstly to clarify those special circumstances, and then, by means of flow charts, to identify the key decisions which must be faced if the retirement is to be successful. The practise of handing on the farmland and the other business assets to the next generation are regarded as separate but interrelated stages in the process of retirement, both having legal, financial and human consequences which are considered. By way of conclusion, the parameters for a successful retirement are considered, both from the standpoint of the retirer and of the successor.

Retirement income policy and the taxation of superannuation in Australia

Superannuation is a form of savings for retirement. The savings are invested and earn income, but the proceeds are generally not available until the beneficiary reaches retirement age} The federal government's retirement income policy has three components, two of which relate to superannuation: the age pension, which provides income support to men aged 65 and over and to women aged 62 and over.2 The pension is means tested and does not depend on previous labour force participation or individual contributions; a compulsory superannuation scheme (under the Superannuation Guarantee Charge (Administration) Act 1992 (SGA Act)), which requires contributions to be made by employers on behalf of all employees, whether full-time, part-time or casual;3 and encouragement, through the taxation system, of voluntary contributions to approved superannuation funds.4 In May 2002, the government released a report, the "Intergenerational Report", 5 which identifies issues associated with Australia's ageing population and considers the fiscal implications of those changes. The Report noted that a steadily ageing population is likely to place significant pressure on government finances. It also noted that one of the key priorities for ensuring fiscal sustainability should be "maintaining a retirement income policy that encourages private saving for retirement and reduces the future demand for the Age Pension". 6 The main way the government has sought to encourage that private saving is through the tax system, primarily by the use of tax concessions. Over the past 20 years, however, the taxation of superannuation has grown in an extremely ad hoc manner and is now inequitable, inefficient and overly complex. This article suggests that the taxation of superannuation in Australia is in urgent need of a complete review. The article further asserts that, if an appropriate framework can be devised, changes could be introduced as budgetary pressures allow.

The eradication of compulsory retirement and age discrimination in the Australian workplace : A cause for celebration and concern

Earlier this year the Age Discrimination Act 2004 was passed by the Commonwealth government. This paper provides an overview of the Age Discrimination Act 2004 and critically examines whether it is likely to be successful in eradicating compulsory retirement and age discrimination within the workforce. Empirical studies suggesting that law reform alone is insufficient to eliminate ageist employer behaviour are discussed as is the need for public awareness campaigns. Given that compliance with the law is closely linked with normative belief, this paper also considers whether a moral duty to refrain from age discrimination can be grounded within the natural law ethic.

Does financial education influence retirement savings? An examination of Australian employees

In order to ensure a financially secure retirement, Australians will need to plan and save for their retirement many decades before they retire.

The age pension, paid for out of Commonwealth government taxes is currently the backbone of the retirement system, but will not replace as much pre-retirement income in the future as it does today. Given the shift from the defined benefit style to the accumulation style, superannuation funds involve considerably more uncertainty, and as such, one might have thought that individuals would be saving more on their own. But personal saving outside of superannuation plans is virtually non-existent. Combine the retirement income crunch with the dramatic increase in life expectancy, and the need for careful retirement planning and sacrificing current consumption for later consumption becomes imperative for ensuring the financial security of older Australians. The hard question is whether individuals will be prepared to make the necessary sacrifices today to ensure a more secure financial future in retirement? This paper explores the willingness of individuals to make these sacrifices, and whether financial education can influence individuals in this difficult decision.

Modeling and analyses of the retirement of deteriorated structures

With the increasing stock of aging structures, the strategy to model and analyse the retirement of deteriorated structures is becoming a challenging research field. As the converse of construction of new projects, the retirement of constructed facilities puts forward some new management and economics themes as well as environmental issues or adds some new contents even though the same issues are faced in construction. This research aims to model and analyse the maintenance and demolition activities of constructed facilities from economic and environmental perspectives. Both cost and carbon dioxide of maintenance and demolition activities are formulated based on those of construction activities and applied to an empirical study on deteriorated bridges. Further modelling and analysis is investigated to elaborate the demolition stage of a structure. The developed modelling and analysis methodology may enable the decision maker to determine the retirement strategy for a deteriorated structure.

Land retirement: a biodiversity policy for the rangelands of Western N.S.W.

In this article we examine land retirement as a biodiversity policy option for the rangelands of Western NSW, a region seriously under-represented in biodiversity provision. We argue that the use of policies that rely on moral suasion, education and minimal costsharing will not yield the level of on-farm biodiversity provision demanded by society. Instead, a much greater commitment to the use of monetary incentives to induce the voluntary cooperation and production of biodiversity is required. The analysis explains the importance in policy design of determining transparent, meaningful and achievable objectives in delivering cost-effective environmental outcomes. We propose a land retirement
policy that rakes account of environmental, economic and political criteria. Finally, our land retirement proposal is supported quantitatively by benefit-cost analysis.

Agricultural land retirement: lessons from an Australian case study

In this paper, we analyse the case for agricultural land retirement in Australia. For the case study considered, using defined criteria, we demonstrate that land retirement is an effective policy option. This finding depends crucially on the magnitude and sign of the price effect resulting from a fall in wool production because of agricultural land retirement. Uniquely in the literature, we argue that the price effect will positively contribute to a benefit–cost analysis of agricultural land retirement. We detail the necessary conditions that need to prevail for this to occur. We also explain why the expected benefits of land-use change are fewer than might be expected in the case study.

Evaluating the impact of financial literacy programs on the retirement savings of superannuation fund members

Currently, in Australia, the age pension, paid for out of Commonwealth government taxes, forms the basis of Australia’s retirement income system, however, given the reality of an ageing population has compelled the government to undertake a number of measures to shift the responsibility for saving to the individual, forcing them to accept an increasing level of responsibility for their financial decision-making. In the light of the changing retirement environment, it would be expected that Australians’ would ensure that they became financially literate, however, despite the amount of information and advice available in the market place, this is not the case, and they do not appear to be appropriately prepared for their retirement. Recognising the importance of financial literacy, an increasing number of government agencies, employers, superannuation funds and schools are implementing financial literacy programs in Australia. This article provides an overview of the impact that attending a financial education seminar has on the retirement decisions and settings of participants. Evidence is provided from this research that in the short term, providing financial education programs make a difference to an individual’s intended retirement settings. However, the impact of these education programs in changing investment behaviour is less conclusive.

Retirement planning and expectations of Australian babyboomers

The "babyboomer" generation, those who were born between 1946 and 1965, account for over 30% of the population in Australia, and it is no surprise that the government is concerned about the financial implications for future healthcare costs. While many babyboomers are more financially secure than previous generations have been on account of compulsory superannuation contributions made over the past 15 years, there are still some who are financially vulnerable and expect to rely on government pensions and welfare assistance. Changes to family structures and job security also mean that those who are less financially secure will need social support. Using an ecological framework model , we explored the retirement expectations and experiences of some Australian babyboomers through focus groups and individual interviews to identify key issues and their plans to address these issues. Four main themes are reported in this paper: retirement attitudes and expectations, finances, health, and food. The results suggested that for many persons retirement equated freedom. Little future planning was undertaken for retirement other than contributing to superannuation schemes, and expectations were reported in general terms, such as wanting to remain independent and healthy and to have time to socialize and travel.