The average age of retirement has been increasing over time, and the Pandemic has accelerated that trend. Although the loss of jobs early in the Pandemic affected older workers more than younger workers, by June of 2020 that trend had changed. (1)
The chart below indicates the growing trend in working beyond age 65:
There are several factors which have encouraged older workers to continue working during the Pandemic:
- Working from home has made work easier
- Part-time work is more feasible
- Provides opportunity to bolster their retirement savings
- Allows workers to stay mentally challenged and engaged
- Opportunities for other types of engagement, such as religious and civic activities, have decreased during the pandemic