Article by Charles Handy on the four pillars of security needed in the third age of life, one being, importantly, part-time work in addition to pensions and savings. Handy begins the article discussing Arthur Miller’s play, Death of Salesman, and how it has finished a distinguished run at the National Theatre. Handy mentions the character Linda and how she was left appealing to her two sons to give her husband some attention now that he is no longer an active salesman, and in the Third Age of his life. He proceeds to describe how the working lives of individuals have changed over the years, and that people can expect a much longer life after they leave work. This “Third Age” requires money to successfully navigate, so a continued working life is necessary for one to support themselves in this age. Handy recommends four “pillars” of financial security to adequately prepare for the Third Age period, namely, a personal or occupational pension, a state pension, personal savings and investments, and, fourth, part-time employment. He then argues that Britain is better placed than other capitalist European nations because two-thirds of workers enjoy some kind of private pension, alongside a longer tradition of independent working. Handy concludes his analysis stating that leisure has meaning as an interlude in work, but that leisure without work can feel like unemployment, so some work is still needed as a counterweight.
Handy, Charles B Handy, Elizabeth Miller, Arthur, 1915-2005 Management today series Muir, Alastair K. S. (Alastair Kerr S.), 1957- Britain and Europe Britain and its people Capitalism Retirement National Theatre (Great Britain) France Leisure
Source
Article by Charles Handy on the four pillars of security needed in the third age of life, one being, importantly, part-time work in addition to pensions and savings. Handy believes Britain is in a more favorable position than France for third age life, 1997; Charles Handy Papers; Box 20, Folder 12; 1 page
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