Retirement & Financial Planning Report

Workers in the years approaching retirement are highly interested in phasing into retirement rather than using it as an abrupt change in life, according to a study by the TransAmerica Center for Retirement Studies.

Two-thirds of baby boom workers “envision a phased transition into retirement during which they will either continue working, reduce hours with more leisure time to enjoy life, or work in a different capacity that is less demanding and/or brings greater personal satisfaction. Only 21 percent expect to immediately stop working when they retire,” said a report.


The findings, while not focused on federal workers, underscore the potential for the government’s phased retirement program, which is now available on paper although not as a practical matter as agencies continue to decide how, how much and when they will use that authority.

Among persons over age 50 who were surveyed, 52 percent plan to continue working in at least some capacity after they retire—largely for the income but about a third of those said they desire to stay involved or simply that they like what they do.

“The crux of their vision is born out of today’s realities including the prolonged recovery from the Great Recession and retirement savings shortfalls as well as the extraordinary gifts of increased longevity, active living, healthy aging, and opportunities to stay engaged and involved,” the study said.