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The Enthusiasm for Work Remains High Regardless of Age!

By AgeIn Team

5 min. read

The Enthusiasm for Work Remains High Regardless of Age!

The latest surveys among retirees reveal a common thread – a significant number of them are eager to continue working even in their retirement years. For these individuals, work represents more than just a source of income; it brings meaning to their lives and helps maintain their social connections. Among those who continue to work post-retirement, there's a consensus that employers generally view them quite favorably. Some respondents expressed the need for specialized recruitment services dedicated to retirees.

The majority of retirees prefer part-time roles or temporary project-based work to ensure that their jobs do not become overly burdensome and can be fitted into their schedules comfortably. A select few, however, take up work post-retirement because their pensions alone are insufficient to cover their expenses. For these individuals, the additional income can also serve as financial support for their families. Many see supplementary income as an opportunity to travel more, improve their quality of life, and fulfill other desires. Nevertheless, studies have shown that low-income retirees are less likely to seek employment.

A stumbling block for retirees engaged in post-retirement work is the perceived heavy tax burden, which often leaves them with a significant reduction in earnings. Society could do well to encourage and support retirees in the workforce by implementing tax reductions.

The utilization of retirees' labor could also alleviate labor shortages within specific industries and sectors. Surprisingly, many retirees venture into entrepreneurship or continue running their businesses well beyond their retirement years.

Regional disparities are evident, with retirees residing in major urban areas facing challenges in securing employment even when job opportunities are abundant. Conversely, rural areas may have fewer job prospects but offer entrepreneurship as an attractive avenue for retirees looking to employ themselves.

Supporting the idea of retired individuals seeking work is essential, though policymakers must also address concerns such as tax incentives that may discourage post-retirement employment. It's worth noting that retirees often cite employers' attitudes as another key factor affecting their decision to work after retirement. They believe that their productivity is often underestimated in comparison to younger workers.

Health status can be another barrier to post-retirement employment. Some retirees argue that work can have a positive impact on their mental well-being and, therefore, they are willing to continue working in their later years. For many, the opportunity to work during retirement offers a chance to enjoy the rewards of their labor and spend more time with family, including their grandchildren.

To facilitate and promote employment opportunities for retirees, society should establish clear objectives and utilize various incentives. Increasing awareness and understanding of post-retirement employment is crucial. Society can encourage and incentivize post-retirement employment by implementing tax relief and promoting part-time job opportunities.

Furthermore, creating platforms that connect job seekers and employers could ease the process of matching retirees with suitable work opportunities. The 'Back to Work After Retirement' initiative provides a promising solution for this endeavor."**

*The Pensioners' Association conducted a survey for its members between November 18 and December 18, 2020. The survey was administered via email to a sample of 5,000 individuals drawn from the association's membership database. Additionally, the survey form was made accessible as an open link on the association's website, in the Vivo magazine on December 2, 2020, and in the ET magazine on December 3, 2020.

The primary objective of the survey was to ascertain how many retirees engage in work alongside their pensions. Concurrently, it inquired about their motivations for working and how employers respond to retirees returning to work. The survey aimed to uncover the nature of the work undertaken by retirees and the methods through which they secured their employment. In total, 861 responses were collected.


Invitation to Break Age-Related Stereotypes!

Join us in shattering stereotypes related to aging! Let's work together to enable those who wish to continue working after retirement age. Remaining active and purposeful has been proven to directly impact the quality of life in the later years. Reduced illness and frailty, improved memory, and more – the benefits are numerous.

Discover what you can do to contribute and join us in this initiative at:

https://agein.io/fi/registration

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