Life Satisfaction and Emotional Well-being among Older Adults: Does Working after Retirement Age Matter??

Abstract

Official retirement age is the age when people may start receiving their pension or social security benefits. This study examines motivations for working post-retirement age and its effects on older adults' life satisfaction and emotional well-being. Using Social Survey data collected by Israel's Central Bureau of Statistics for the years 2017-2020, this study selected individuals post retirement age (62 + for women, 67 + for men), and investigated factors associated with post-retirement work and its relationship with emotional well-being. The findings reveal gender differences: economic needs motivate men to work full-time after retirement, whereas good labour market prospects motivate women. People working after retirement age report better or similar outcomes than those not working. Full-time work is positively related to men's outcomes, regardless of job type, whereas working post-retirement age is related to women's satisfaction only if it is in lucrative occupations, and is not related to emotional well-being. Working after retirement age may help promote healthy aging and may facilitate the transition out of employment and into retirement, especially for men.