For the past two weeks we have been sharing findings from the MHI 2023 Global Healthy Aging Survey. Previously, we explored how social engagement supports older adults’ happiness and health and how senior living arrangements influence quality of life. In this third piece, we focus on the survey’s results about people who continue working after the traditional retirement age. For some, work is a financial necessity; for others it offers purpose, social connection, or personal fulfillment.
A healthy aging analysis
The McKinsey Health Institute’s 2023 Global Healthy Aging Survey collected responses from more than 21,000 adults aged 55 and older across 21 countries (about 1,000 respondents per country). The survey examined perceptions, preferences, and activities related to healthy aging, ranking 53 factors to understand which were most meaningful and impactful.
Key elements linked to healthy aging included a sense of purpose, effective stress management, regular physical activity, lifelong learning, meaningful relationships, and financial security. The survey also underscored the positive effect of social participation—especially volunteerism—on older adults’ well-being.
The work landscape for older adults
Survey participants were asked to identify which of four statements applied to them, choosing one from each of two categories: whether they were working or not, and whether they wanted to work or not. For example, a respondent might be “not working” and “doesn’t want to work,” or “not working” and “wants to work.”
Unsurprisingly, the desire to work generally declines with age. Among those aged 80 and older, only 38% said they wanted to work, while more than two-thirds of respondents aged 55 to 64 indicated they wanted to remain employed. Across the survey, about 19% to 25% of respondents said they wanted to work but were currently not employed.
The stats on older adults’ work status (including working after retirement)
Focusing on the 11,747 respondents aged 55 and older who live in high-income economies (such as the United States), the distribution was:
- 53% are not working and don’t want to work.
- 23% are working and want to work.
- 19% are not working but want to work.
- 4% are working but don’t want to work.
These figures reveal several important patterns.
Not working and don’t want to work
More than half (53%) of older adults in high-income countries reported they are not working and don’t want to. Many in this group have saved for retirement and are now enjoying that phase of life. Others may be at home as caregivers for spouses, children, or grandchildren, be engaged in full-time volunteer work, or otherwise choose to focus on activities outside paid employment.
Working and want to work
The second-largest group (23%) are actively working and want to continue doing so, including many who work after retirement age. Their top motivations were:
- Financial reasons
- Personal fulfillment
- Health reasons
For some, continued income helps bridge a retirement savings gap or provides discretionary funds. Others seek personal fulfillment—finding work staves off boredom and creates purpose. That may mean returning to a previous career or launching an “encore career” that aligns with personal passions. Some respondents described working for health-related benefits—wanting to stay active, maintain social ties, or retain employer-based health coverage prior to eligibility for public insurance programs.
Overall, about three-quarters of older adults appear satisfied with their current work status, whether that means continuing to work or enjoying retirement.
Not working but want to work
Nearly one in five older adults in high-income economies reported they are not working but would like to. Among this group, the most commonly cited barriers were:
- 27% reported difficulty finding a job
- 18% said there were a lack of attractive opportunities
- 12% felt their skills are not in demand
Even in labor markets with low overall unemployment, certain roles or industries can be difficult for older job seekers to break into. Employers and hiring managers should recognize the value older workers bring—decades of experience, strong problem-solving skills, institutional knowledge, professionalism, reliability, and a committed work ethic. Many older workers are motivated by a desire to contribute meaningfully to their communities, which can translate into high engagement and job satisfaction.
Where skills gaps are perceived, employers can consider targeted training or roles that leverage transferable skills to make employment more accessible for older applicants.
Working but don’t want to work
A smaller share—about 4%—are still working but would prefer not to. This group often faces difficult circumstances, such as insufficient retirement savings, limited access to affordable care, or health and mobility challenges. Their situation highlights the need for affordable housing, healthcare, and support options that allow older adults to step away from the workforce if they wish.
Respecting older adults’ working-after-retirement wishes
There’s nothing wrong with relaxing and enjoying retirement, just as there’s value in continuing to work for income, social engagement, or a sense of purpose. The central question is whether older adults are working by choice or out of necessity—and whether those who want to work can find suitable opportunities.
Policy, social supports, and industry practices should respect and facilitate both preferences. People who want to work should have access to suitable roles, while those who prefer not to work—or who are unable to—should not be forced to continue for lack of affordable alternatives. Senior living and care providers can support these varied needs by offering services such as transportation to jobs, on-site employment opportunities, remote-work spaces with Wi‑Fi, and affordable housing and care options that preserve dignity in retirement.