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Recession causes workers to delay retirement

The recession has put even greater pressure on employees to keep working, according to a new report by The Conference Board.

By Heather Trese | Updated on May 20, 2011

Since the mid 1990s, workers have been retiring later and later. But the recession has put even greater pressure on employees to keep working, according to a new report by The Conference Board titled U.S. Workers Delaying Retirement: What Businesses Can Learn from the Trends of Who, Where and Why.

According to the report’s author, retirement rates declined significantly during and after the great recession. But delayed retirement can be seen more predominently in some occupations and industries, such as the healthcare industry, which experienced the largest decline in retirement rates in recent years. Conversely, there was almost no retirement delay among government workers, likely because these workers tend to receive defined benefit pension plans.

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