Gray workers from the gray economy : exploring the concepts of successful retirement for workers in the informal economy

Date

6-2023

Degree

Bachelor of Arts in Sociology

College

College of Arts and Sciences (CAS)

Adviser/Committee Chair

Sunshine Therese S. Alcantara

Abstract

Retirement means the permanent departure from the workforce. The informal economy, as a relatively unregulated economic sector, lacks a shared standard definition of retirement. As such, many elderly people in the informal economy continue to work despite old age. Retirement in the sector remains to be an under researched subject in local and international studies. To bridge this gap, this study explores the understanding and perceptions of the concept of retirement of elderly people in the informal economy. Using a qualitative research design, twelve informal workers aged 55 to 78 were interviewed using one-on-one semi-structured in-depth interviews to understand the concepts and perceptions of informal workers regarding retirement. Thematic analysis was used to analyze the responses of the participants. The findings of this study argue that informal workers conceptualized retirement with inability to work. Informal workers expressed apparent preference towards continuous work despite their old age due to reasons such as the need to still earn money and fear of physical deterioration due to sedentary lifestyle. The informal workers expressed the desire to continue working as long as they could - making their retirement period uncertain. Having physical health as one of their main considerations for retirement and negative sentiments towards retirement were also expressed by the participants. Finally, informal workers attach successful retirement with having a comfortable life. This study highlights that informal workers view retirement as the state of being unable to work, leading them to continue working beyond the normal retirement age. The findings emphasize the importance of considering physical well-being, financial needs, and improved social security when designing retirement strategies for those in the informal sector.

Language

English

LC Subject

Retirement, Retirement -- Psychological aspects, Retirement income

Location

UPLB Main Library Special Collections Section (USCS)

Call Number

LG 993.5 2023 S7 P33

Document Type

Thesis

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