Participation in a Dual Economy and Adjustment to Retirement

Abstract

Past studies of adjustment to retirement have generally accepted social structure as a given, and have instead focused upon individual level variables. Based upon criticisms of the white-collar/blue-collar depiction of the work world, an alternative model of the economic system is introduced in an attempt to interject variability in the area of social structure. Utilizing a national sample of men derived from the National Opinion Research Center (1972–1977 inclusive), this dual economic model is employed to assess the effects of sectoral placement of workers on subsequent retirement satisfaction. Findings from multiple regression analysis suggest that such placement renders two qualitatively different groups of retirees, one which is primarily concerned with health, and one for which financial adequacy is more important for retirement adjustment. Overall, it was concluded that structural components must be included in research on the retirement process. In addition, the variability among the different scales used to indicate adjustment to retirement suggests that these may have to be altered to adequately reflect the process of adjustment for each of the groups of retirees. These changes must be based on the structural aspects of the economic order which mandate very different work experiences.