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.

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