TRANSITION FROM WORK TO RETIREMENT: THEORETICAL MODELS AND FACTORS OF ADAPTATION

The article aims to provide a review of the currently most accepted models explaining transition and adjustment to retirement, which include role theory, continuity theory, life course perspective, and the resource-based dynamic model for retirement adjustment. One of the main theories explaining adaptation to retirement is role theory. Based on this theory, retirement can be characterized as a role transition (Riley & Riley, 1994), when a job role is weakened or even lost, and roles associated with family and community are strengthened (Barnes-Farrell, 2003). Research suggests that an individual can maintain continuity even through part-time employment (Feldman & Beehr, 2001) or by maintaining leisure activities (Pushkar et al., 2011) after retiring. Continuity theory, therefore, suggests that a retired person is directly responsible for creating an adaptation strategy which may help them in their transition. Life course perspective theory, on the other hand, discusses two main factors influencing retirement: a) individual history -including past life transitions, working and recreational habits (Carr & Kail 2013), and b) individual attributes -such as demographics, health and financial status and transition capabilities (Griffin & Hesketh 2008; Wang, 2007).