Health and Ageing as Factors in the Retirement Experience

Abstract

This investigation focuses upon satisfaction with retirement and the relationship to perceptions of physical and mental health outcomes, age, and time in retirement. An intensive interview programme was the basis for a U.K. postal questionnaire survey of early retired men (n = 1207), utilizing life satisfaction indices and a factor analysis of advantages and concerns experienced. Respondents were generally satisfied with retirement, particularly if finances were adequate. While self-reported physical and mental health improvement was common, a significant minority had experienced serious health problems subsequent to retiring, which affected satisfaction. Younger respondents tended to score more highly on satisfaction scales and in respect of perceived advantages, particularly the under 60s. Concerns were, however, demonstrated at all ages, although for differing reasons. A voluntary rather than a compulsory exit from the labour force as anticipated proved more likely to result in satisfaction with post-retirement experience. Overall, the study demonstrated the individual nature of adjustment to retirement and the importance of analysis of the characteristics of subgroups in the future .

Leaving the labour market: the impact of exit routes from employment to retirement on health and wellbeing in old age

“…People who have managed to work until old age pension in good health show more positive life experiences in retirement than do those without these advantages (Dorfman 1995(Dorfman , 1985Kim and Moen 2001;McGoldrick and Cooper 1994;Mein et al 2003;Hyde et al 2004;Smith and Moen 2004;Pinquart and Schindler 2007). People who leave the labour market involuntarily, on the other hand, compelled by push factors such as health problems or as a result of environmental or structural constraints, are less likely to perceive retirement in positive terms (Nordenmark and Stattin 2009).…”

“…being a parent, a husband/wife, employed) may serve as a buffer, as failure in one social sphere can be compensated for by success and satisfaction in another. Retirement entails the disappearance of the work role and, according to the theory, this may lead to a general decline in wellbeing and quality of life (Barnet and Hyde 2001;McGoldrick and Cooper 1994). However, engagement in multiple roles may also be interpreted as having quite the opposite effect.…”

Entering the Retirement Zone: How Much Choice do Individuals Have?

“…Perhaps unsurprisingly, a majority of interviewees felt that the individual should be able to exercise choice in the timing of retirement. Those who feel that they were forced to retire earlier than they would have chosen, through redundancy, ill health or 'voluntary' early retirement are more likely to be financially and psychologically vulnerable (Arthur, 2003;McGoldrick and Cooper, 1994;Maule et al, 1996). I really do think people would like to be able to say yes I feel fit, fine, as long as my boss thinks I am still up to doing the job I am doing then you should.…”

Seeking Resources: Predicting Retirees' Return to Their Workplace

“…Financial loss was assessed with four items adapted from the Money Worries scale developed by McGoldrick and Cooper (1994). Respondents were asked to indicate how often they had experienced each of the four financial concerns since they retired.…”

“…In their study of the factors related to the retirement experience, McGoldrick and Cooper (1994) identified missing aspects (e.g., responsibility, satisfaction, routine) of one's former job as a major concern associated with the loss of work. The Miss Work measure was significantly negatively related to satisfaction with one's post-retirement experience.…”