Gary Martin: For some, retirement fails to live up to the expectations

Most seasoned workers eagerly await the day they can hang up the boots for a newfound freedom to do things they previously did not have time for.

Others remain chained to their desks by financial woes.

Then there is an emerging third group — non-retirees.

They are a new breed who can afford to clock off but are rattled by the thought of retiring.

The allure of retirement is starting to lose its sparkle, especially for the growing flock of older Australians who opt to postpone or wave goodbye to retirement.

Over the past 20 years, the retirement age for men has risen from 63.2 years to 66.2. For women, it has risen from 61.7 years to 64.8. At the heart of the rise in the number of non-retirees is the skills shortage. And some employers are encouraging workers to ditch retirement plans.

Bosses have also become more positively disposed to part-time employees, which aligns with the preference of many mature-aged workers.

Technology has transformed the way people work. Remote work options mean older Australians can work without the need for long commutes.

Mature-aged workers can pursue their local, domestic and international travel plans while working on a part-time or casual basis.

Many have decided that retirement is simply not viable, having discovered the negative consequences of others’ retirement experiences.

They might have witnessed family members who, upon retiring, became detached from those around them and suffered a decline in physical and mental well-being.

Some non-retirees recognise the novelty of home projects, long lunches, playing golf or full-time travel can wear thin after just a short time. They remain unconvinced retirement will offer them a sense of purpose and fulfilment beyond the initial excitement of more time for relaxation.

Some non-retirees also recognise many who farewell their careers cut themselves off from long-term friends — their former colleagues. In short, non-retirees understand the significance of maintaining structure in each day, of intellectual stimulation and the value of social connections as ways to stay young for longer.

Age might bring physical limitations that make certain jobs challenging. But with longer life expectancy and better health, many mature-aged workers can continue to make a valuable contribution to their workplace.

Non-retirees will continue to reject the notion someone in their 70s, 60s or even late 50s should trade the grind of work for a life of joy and leisure — funded by a superannuation payout, investments or savings.

Instead, they are trendsetters who embrace the opportunities of the modern workplace by striking a balance between bosses, teams, presentations and spreadsheets and the joys of the golf course, crosswords, trips away and long lunches.