Factors Influencing Early Retirement : Am I Ready?

Dayang Kartini, Abang Ibrahim and Maria, Alfred Kanyi and Zaiton, Hassan (2022) Factors Influencing Early Retirement : Am I Ready? In: INTERNATIONAL COUNSELING CONVENTION 2022, 1st-4th November 2022, Riverside Majestic Hotel, Kuching Sarawak.

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Abstract

This study applies the main issues identified to influence early retirement and a decisionmaking process leading from retirement thoughts to retirement plans and from retirement plans to actual retirement. Early retirement plans are highly personalized decision, and it is an individual’s opinion on their short term or long-term plan and need to be regarded distinctive. Early retirement can be thought to represent the effect of unobservable characteristics on retirement, such as preference and motivation. Several key factors are associated with early retirement such as excessive physical and psychosocial work demands and poor wellbeing. In addition to the factors such as financial, social issues, work related elements and health has a pronounced effect towards early retirement. The most important way for organizations to extend working lives is to look after the health of their employees. Giving the workers an increased sense of control and lowering job demands helps to prevent early retirement. Supporting employees in their working period need to be gradually reviewed and studied taking into account the inflation rate especially during the COVID-19 pandemic.

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