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6. Financial crises and recession is likely to have an effect on the retirement decision of older workers. (a) Based on your knowledge of the

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6. Financial crises and recession is likely to have an effect on the retirement decision of older workers. (a) Based on your knowledge of the determinants of the retirement decision, discuss how the financial crises and recession may affect retirement decisions. (b) Discuss how this effect of the financial crises and recession on the retirement decision may differ for workers in defined-benefit pension plans compared to defined-contribution plans, after explaining the differences between the two types of plans. 6. Financial crises and recession is likely to have an effect on the retirement decision of older workers. (a) Based on your knowledge of the determinants of the retirement decision, discuss how the financial crises and recession may affect retirement decisions. (b) Discuss how this effect of the financial crises and recession on the retirement decision may differ for workers in defined-benefit pension plans compared to defined-contribution plans, after explaining the differences between the two types of plans

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