Survive a sudden exit
Out of the blue you get some shock news that forces you out of the workforce. A company restructuring could mean you are facing a redundancy; or you receive unexpected news about your health; or a loved one needs you to care for them; or your adult kids require your grandparenting skills so they can participate in the workforce.
It means you are suddenly retired, years before you had planned to. It can be traumatic and few people are prepared – emotionally and financially – for a sudden end to their career.
For many people the peak earning years are the 40s and 50s, not the 60s, says David Knox, senior actuary at Mercer. He points out the average retirement age is 63 – four years short of the age pension age, if born on or after January 1, 1957.
He says people suddenly find themselves retired and may be able to find
