Australia’s culture of early retirement is being replaced by a culture of gradual retirement, a researcher from the University of Adelaide has said.
Results from a recent study of 900 South Australian people aged between 50 and 65 showed many baby boomers do not intend on giving up work, with only 26 per cent saying they will fully retire.
Of the remaining portion, 42 per cent said they would move from full-time to part-time employment, 25 per cent said they would reduce their part-time hours and 7 per cent said they would not retire at all.
Researchers believe this could have major implications for the future of the Australian workforce, and that policies need to be put in place so that workplaces remain safe, welcoming, flexible and productive for ageing.
“What surprised us about the results of this survey was the large number of baby boomers who indicated they would either just reduce their hours and keep working beyond the age of 65 years, or not retire at all,” said study co-author Dr Helen Fiest.
“At a time when there is national debate about the retirement age being lifted to 70 by 2035, studies such as this will help us better understand what our population intends to do, and why.”
The findings were first published online in BMC Public Health, and Fiest noted the survey was conducted before the current Federal Government was elected.Do you have an idea for a story?
Email [email protected]