Retirement needn’t be a sudden career halt: India needs to re-imagine it as a gradual transition

Subscribe to enjoy similar stories. We view retirement as an end state, but the reality of it is far more nuanced. There is evidence that retirees would like to work and engage in some activity.

This group is a useful demographic segment that can be leveraged for better growth as well as ageing outcomes, and by extension, health and spending outcomes. India still designs retirement as a cliff-edge exit from work. Older professionals are asking for something very different.

WisdomCircle, in partnership with Dalberg, surveyed over 1,000 experienced professionals and retirees aged 55–80 across India to examine how they view work and retirement. The results were stark in highlighting how experienced professionals are rethinking traditional definitions of retirement. It no longer is viewed as an end; it signifies a transition to a new way of living.

Our lack of transition support systems is a key reason many feel adrift. After the age of 65, the average retirement age, the proportion of adults looking for new opportunities increases, indicating that there is a desire to engage in some form of activity, whether it’s a job, volunteering or participating in community-oriented work. Globally, labour force participation for 60-year-olds and above has risen significantly.

In the US, for example, the labour force participation rate for people aged 55-64 rose from about 55% in 1990 to about 66% in 2023, and in the EU, from about 38% in 2000 to 60% in 2020. This study, like others, shows that older adults would like to remain in or rejoin the workforce if given a suitable opportunity. What might explain this desire to continue engaging after retirement? Most respondents attribute this to a desire for structure and routine, and their