Working Past Retirement Age is Becoming More Common

As people get older it's still fairly common for them to look forward to retirement. But this isn't true of everyone. A growing number of individuals is putting off retirement - and sometimes canceling it altogether.

For a long time the number of people working after the age of 65 was going down. Now it's increasing. About 30% of people over 65 are still working at least part time. 6.4% of those over 75 and 3.4% of those over 80 are still in the work force. Some are self-employed - for example, the oldest working American is a 104-year-old beekeeper. But others work for employers in many different industries, including retail stores, non-profit organizations, service industries, and the government.

Why do some people want to keep working when it seems natural for them to settle down and enjoy life - especially if their income is coming from outside sources like Social Security and private retirement plans? There are a number of reasons. For some, work is more fulfilling; they like what they do and don't want to stop just because they've reached "retirement age."

But for others, continuing to work isn't a choice - it's a necessity. Social Security benefits may not be enough to cover basic monthly expenses, especially if the person has costly prescription medications. Even if Social Security were adequate, it's taking longer to qualify for benefits as the minimum age rises to 67. Retirement accounts can help, but not everyone has one. For some people working means the difference between remaining in a home they love and have lived in for many years and staying with relatives or friends. In other words, work helps people stay independent.

Recent legislation has made it easier for seniors to keep working. The Senior Citizens Freedom to Work Act of 2000 made it possible for people between the ages of 65 and 69 to earn an unlimited amount without seeing a change in their Social Security benefits (before this law they lost $1 in benefits for every $3 earned above $17,000/year). An older law, the US Age Discrimination in Employment Act of 1967, raised the mandatory retirement age to 65. Later legislation eliminated mandatory retirement altogether, with a few exceptions (like safety-related jobs).

How do employers feel about this? The reaction has been mixed. There are still up to 20,000 age discrimination complaints filed in federal court each year. But some companies welcome older workers, believing their experience and maturity are very useful, especially to newer and less-experienced employees. Senior workers may also have a different work ethic, being more reliable and taking company rules and policies more seriously, which can set a good example for their coworkers.

The American Association for Retired Persons (AARP) has formed a National Employer Team whose members represent many areas of business, including retail, health care, finance, and communications. Companies on this team are motivated and committed to hire and keep workers over 50.

Experts do say that any employer looking to hire seniors may want to consider factors like the following:
- job requirements - seniors may be better with human interaction - face to face contact - than with electronic devices (but this isn't always true; some seniors are real "computer geeks")
- flexible scheduling to allow for required activities like doctor visits and perhaps less physical stamina
- training of other employees, especially managers, to deal with issues related to age as well as race and gender

Whatever employers may think, and whatever the reason, it's a fact that more people are staying in the workforce later. It's time to take advantage of seniors' special gifts as well as make allowances for their special needs.

As for the seniors themselves - many love their jobs and consider work an important part of their lives. In fact, many have said they plan to continue working until they can't.