In this article, we review both theoretical and empirical advancements in retirement adjustment research. After reviewing and integrating current theories about retirement adjustment, we propose a resource-based dynamic perspective to apply to the understanding of retirement adjustment. We then review empirical findings that are associated with the key research questions in this literature: (a) What is the general impact of retirement on the individual? and (b) What are the factors that influence retirement adjustment quality? We also highlight important future research directions that may be fruitful for psychologists to pursue in this area.

Multiactor panel data on 778 Dutch employees were used to examine adjustment to and satisfaction with retirement. Regression analyses revealed that adjustment and satisfaction are related, but not identical. Adjustment problems arise from preretirement anxiety about the social consequences of retirement and from a lack of control over the decision. Retirement satisfaction is primarily related to the individual's access to key resources: finances, health, and the marital relationship. The study shows that the retirement transition is multidimensional. The transition involves two developmental challenges: adjustment to the loss of the work role and the social ties of work, and the development of a satisfactory postretirement lifestyle. Making a distinction between these two aspects of the retirement experience is important for a better understanding of the psychological process following retirement.

The way he or she frames the retirement transition in social relationships within the family and at work affects the older worker's subjective experience of retirement.

Retirement affects both partners, albeit in a different way. Retirement preparation programs should pay attention to the fact that adjustment is an individualized process experienced differently by each partner.

The results suggest that particularly employees with a high perceived life expectancy and an intention to work longer do not succeed in carrying their intentions into effect.