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Encore Careers and Bridge Jobs—Fact Sheet

 

December 2012—Many older adults would like to delay retirement, while others who retire prematurely for various reasons would like to continue working in some capacity after retirement in an encore career or a bridge job. Older adults may continue to work for economic reasons (need income and/or health insurance) and/or personal reasons (desire to stay involved, enjoying their work, wanting to have an impact).

Facts include:

  • The majority of workers in their fifties and sixties plan to work after they retire, with 52% reporting that they plan to work part-time and about 9% reporting that they plan to work full-time. Fewer than one in five workers (19%) do not plan to work after they retire, according to a 2012 report based on the Transamerica Retirement Survey.
  • Among workers in their fifties who plan to work after aged 65, 8% say they need health benefits, while 44% say they can’t afford to retire and 17% say they need the income. Other reasons included wanting to stay involved (18%) and enjoying what they do (10%). Among workers in their sixties, a somewhat higher proportion report wanting to keep working for enjoyment reasons: 26% say they enjoy what they do while 14% say they want to stay involved, according to a 2012 report on the Transamerica Retirement Survey.


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