The Third Age - The Age of Reason: A Gift not a Burden

John Patterson

The Third Age has been defined as a time when people emerge from the imperatives of earning a living and/or bringing up children and can look forward to 20 or 30 years of healthy life.

However, the historical environment of full employment that existed prior to the 1970s did not encourage skill acquisition, continuing education and positive attitudes to lifelong learning, and changes to the labour market dynamic have left many workers exposed. As a result, older workers are prematurely falling out of the labour market. Those aged over 45 consistently have the highest rate of long-term unemployment, and mature workers also tend to be under-prepared - financially and mentally - for retirement.

This paper argues that the welfare system in New Zealand accepts implicit retirement from age 55, and that this represents a significant loss of human capital the economy can ill afford. The conclusions are based on the author's observations made while working with older job-seekers, as well as reference to international literature.

The paper concludes by arguing that imagination and resources on the part of employers, government and individuals are needed to enable third-agers to continue making a fruitful contribution to society.