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February 12, 2012
 
 
 
 
 
 
Business 04 June 2007, Monday 0 0 0 0
ASIM ERDİLEK
a.erdilek@todayszaman.com

The future of retirement (II)

Last week, I discussed the general findings of the 2007 Future of Retirement report (https://www.ageingforum.org/files/8/uk_re-ports_2007/default.aspx), sponsored by the banking group HSBC Holdings and prepared by the Oxford Institute of Ageing.
 The report, issued annually since 2005, explores “what the world wants for later life,” that is, people’s expectations of and experiences with retirement, based on surveys of 21,000 people, aged 40 to 79, in 21 countries. To what extent does the report’s overall conclusion that “far from being a time of misery, penury and frailty, life for most people in their 60s and 70s is characterized by good health, independence, control and a good quality of life,” apply to Turkey? In this column, I will deal with that question, and also focus on the differences between “mature” and “transitional” economies regarding the report’s overall upbeat and uplifting findings around the themes of contribution, families, and health. Mature economies, such as the United States, Germany and Japan, are industrialized, rich and services sector-oriented, which care for their older citizens through an established retirement system and comprehensive safety nets. Transitional economies, such as Brazil, China and Turkey have yet to reach the point of maturity.

For the 2007 report, 1,017 Turks, aged 40-79, were interviewed through a standardized questionnaire. How do older people in Turkey compare with their counterparts elsewhere, in terms of their contribution to society through unpaid volunteer work, paid work, and support for their families? As in other transitional economies, unpaid volunteer work in Turkey is rare since both the tradition and organization of volunteerism are underdeveloped. Furthermore, for older people in Turkey, as in other transitional economies, due to the necessity of caring for themselves, volunteering is a luxury. The proportion of people engaged in volunteer work in Turkey is much lower, as expected, than the global average. Compared to mature economies, the proportion of older people who are engaged in paid work in transitional economies is also lower, reflecting the government and employer retirement policies and the health status people in those economies. The percentage of retirees who do some kind of paid work as well as the percentage of those who are not yet retired and expect to work as long as they can is, as expected, also lower in Turkey than the global averages.

As for financial support, in the form of gifts or loans, to a relative or a friend, Turkey belongs to the group of all mature and some transitional economies for which proportion providing financial support is much higher than the proportion receiving such support. But the percentages in Turkey of both providing and receiving such support are, however, lower than the global averages.

As for practical support at home, in the form of cleaning, shopping, cooking and other everyday tasks, Turkey is among the transitional economies in which the proportion providing practical support is also higher than the proportion receiving such support. But in these economies, the proportions providing practical support are lower than in the mature economies. With regard to personal-care support, e.g. in bathing or dressing, in Turkey the percentages of both providing and receiving such support are also lower than the global averages.

For every age group in Turkey, as in most countries, when asked “when you think of who you are, you think mainly of …” the highest response proportion was “my family,” before work, religion and friends. Older people show a deep feeling of responsibility to their families, with almost 100 percent of them stating that it is their duty as a parent to do whatever they can for their children. The percentage of Turks who believe that grandparents ought to help out their grandchildren in difficult times is higher than the global average. Turkey’s “family solidarity index” was the third highest, after Saudi Arabia and India, among all the countries. Germany, Japan and Denmark ranked at the bottom in terms of this index.

When it comes to health, independence and control, the percentage of Turks who feel in good or very good health is substantially lower than the global average. Among all older people, relatively very low proportions believe that “life is full of opportunities.” The response in Turkey to “I feel able to do the things I want to,” was similarly a strong disagreement. Surprisingly, when responding to the phrase “everything is too much effort,” a higher proportion of 40-49 year olds in Turkey agree than the 70-79 year olds.

Finally, in their outlook on the future, the percentage of Turks who are “looking forward to the future,” is lower than the global average, as in other transitional economies. Although relatively low proportions of Turkish pre-retirees and post-retirees fear not being able to cope financially after retirement, Turkish retirees were the highest proportion among all the countries of those who missed their work, as well as their income, more than expected. This indicates a relatively a high level of disappointment with their retirement experiences compared to their expectations.

In conclusion, contrary to the upbeat and uplifting findings for mature economies, there is no “retirement bonus,” identified as a “striking picture of health, control and quality of life as people age into retirement,” in Turkey, which is also the case for other transitional economies. This bonus evidently comes with economic and social development. Life is hard both before and after retirement for those who live in transitional economies.

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