The workforce of older workers was significantly affected during the Covid-19 pandemic. However, only a few studies have examined the impact of the pandemic on older workers' preferences regarding their retirement age. The current study explores whether and how older workers have altered their retirement plans after the pandemic crisis has concluded. Additionally, the study investigates whether the intention to change retirement age preferences correlates with early or late retirement compared to on-time retirement. An online survey was conducted among 419 Jewish older adults in Israel at a pre-retirement age after the pandemic had ended. The results reveal that 35% of the sample reported their intention to change their preferred retirement age following the pandemic and economic crisis. Furthermore, 47% prefer late retirement, 27% prefer early retirement, and 26% prefer to retire on time. The analysis results indicate that lower income, working in the public or nonprofit sector, feeling higher pressure at work, and being involved in more social activities were associated with higher odds for a strong intention to change retirement age plans. Additionally, the odds for preferring late retirement vs. on-time retirement were higher for those with lower income, a higher level of satisfaction from current employment, and more positive attitudes toward employment after the formal retirement age. Understanding these factors may help design policy steps to support older workers after the pandemic and extend their engagement in the workforce.

Authors:
Shosh Shahrabani, The Max Stern Yezreel Valley College, Israel

About the Presenter(s)
Prof. Shosh Shahrabani is currently a faculty member at the Economics and Management department at the Max Stern Yezreel Valley College, Israel.

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