Pension provisions affecting the employment of older workers

MOST PRIVATE PENSION PLANS PLACE CONDITIONS ON THE WORKERS RIGHT TO RETIRE ON A FULL PENSION. AGE AND SERVICE REQUIREMENTS ASSURE THAT THE PROSPECTIVE RETIREE HAS MADE A SUBSTANTIAL CONTRIBUTION TO THE BUSINESS INVOLVED. OTHER PROVISIONS OF PRIVATE RETIREMENT PLANS MAY COMPEL AN OLDER WORKER TO RETIRE WHETHER HE WANTS TO OR NOT. EMPLOYERS MAY BE UNWILLING TO HIRE A WORKER TOO OLD TO JOIN A PENSION PLAN, OR THEY MAY TRY TO COERCE AN OLDER WORKER COVERED BY EARLY RETIREMENT PROVISIONS TO MAKE WAY FOR A YOUNGER EMPLOYEE. SIMILARLY, A WORKER WHO HAS RETIRED ON A FULL PENSION MAY FIND THAT HE WILL LOSE HIS BENEFITS IF HE TAKES A JOB. THIS STUDY FOCUSES ON THOSE PROVISIONS OF PRIVATE PENSION PLANS WHICH AFFECT THE EMPLOYMENT OPPORTUNITIES OF OLDER WORKERS.