Does Working after Retirement Age Affect Life Satisfaction and Emotional Well-Being?

Official retirement age is the age when people may start receiving their pension or social security benefits. This study examines motivations for working after retirement age and the effects of work 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 working after retirement age and the effects of work on life satisfaction and emotional well-being, by gender. The findings reveal gender differences: economic needs motivate men to work full-time after retirement age, whereas good labor market prospects motivate women. People working after retirement age report better or similar emotional outcomes than those not working. Full-time work has positive effects on men's outcomes, regardless of job type, whereas working after retirement age increases women's satisfaction only if it is in lucrative occupations, and it has no effect on women's emotional well-being. Working after retirement age may help promote healthy aging and may facilitate the transition out of employment and into retirement. Recruiting older adults, with their accumulated skills and work experience, may diversify the workplace and perhaps contribute to older workers' life satisfaction and emotional well-being.