The social relations of retirement decision-making

This study is an investigation of the influence of class, as defined by position in the social relations of production, on retirement decision-making. The research reported here applies Marxist class categories and dual labor market theory to social gerontology. Data for the research consist of a national sample (N=1113), aged 35-59, collected by Richard Barfield and James Morgan (1969). The results suggest that class position is an important determinant of expected retirement income, current income, expected economic situation at 65 years of age, and health status--all of which are attributed significance by Barfield and Morgan in retirement decision-making. At the same time, class position is more consequential in predicting expected retirement age than each of these predictors. When class position is added to Barfield and Morgan's model of retirement decision-making, the explained variance (R²) in expected retirement age is increased from 8.5 percent to 12.6 percent and from 9.0 percent to 16.2 percent in a 50-59 aged subsample. The research supports an effort to synthesize critical sociological theory and social gerontology.