Most Older Workers Plan to Keep Jobs
A large majority of workers over 45 plan to stay on the job into their retirement years, with 80% saying most people can’t afford to quit work altogether, according to a survey by the AARP.
The survey, to be released today along with the organization’s list of best companies for older employees, found that 69% of workers said they would keep working in retirement.
About three-quarters of those surveyed said money is one of the major reasons they plan to continue working. But about the same number said they enjoyed working and 84% said they would continue to hold jobs even if they were financially set for life.
“We’re finding there’s a lot more going on here than just the need for money,” said John Rother, AARP’s policy director.
Many of the figures gathered in the survey are similar to those AARP has seen in earlier studies. But in one notable difference, 56% of those surveyed say they needed to work to pay for health-care costs for themselves and their families, up 15% from a survey done in 1985.
The survey, conducted in May and June, is based on a national sample of 1,500 people between the ages of 45 and 74.
The survey, AARP officials said, points to the need for employers to do more to attract and retain older workers. Such efforts are highlighted in the group’s awards to 15 employers.
The employers receiving awards are ABN Amro North America, Chicago; Baptist Health South Florida, Coral Gables, Fla.; Prudential Financial Inc., Newark, N.J.; Howard University, Washington; Qualcomm Inc., San Diego; Calibre Systems, Alexandria, Va.; Stanley Group, Muscatine, Iowa; New York Life Insurance Co., New York; Hartford Financial Services Group, Hartford, Conn.; Adecco Employment Service, Melville, N.Y.; DaVita Inc., Torrance; Ultratech Stepper, San Jose; Mitretek Systems, Falls Church, Va.; Aerospace Corp., El Segundo; Principal Financial Group, Des Moines.
