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Life expectancies and work life

Posted Oct 23 2008 6:16pm

The American Association of Retired Persons (AARP) Global Aging Studyon Retirement in July 2005 showed that 40 percent of global respondents intend to work in one form or another after they officially retire.  Nearly 70 percent of U.S. respondents are interested in working during retirement, while only 15 percent of the survey participants from France would consider employment after they retire.

Baby_boomer_couple5_2 People reported that staying actively involved in something they enjoy provides a slightly greater motivation to work than earning money.  And attitudes about working during retirement may be changing.  A recent study conducted by UBS in the U.S. found that 77 percent of respondents expect to engage in part-time work during retirement, either to earn a major or a minor supplement to retirement income, up from 70 percent 10 years ago.

Both of these issues---working during retirement and age of retirement ---are important from a public policy perspective because the more people are willing to generate income for themselves later in life, the more that taxes on that income will help to alleviate pressures on the financing of old-age entitlement programs.

Source: The Wall Street Journal, December 16, 2006 and UBS Research Focus, "Demographics: A Coming of Age," Wealth Management Research, April 2006 www.ubs.com/wmresearch 

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