Fewer Australians Are "Unretiring" as Trend Persists

Fewer Australians returned from retirement to once again join the workforce in 2016/17 than ten years ago. Still, the number of people changing their mind about life as pensioners remained at a high level and is mostly driven by financial need, as the latest numbers from the Australian Bureau of Statistics suggest.

42 percent of Australians “unretiring” said they were doing so because money was tight, compared to 32 percent who said they were looking for something to do. Meanwhile, cost of living in Australia has been rising faster than before and wages are not able to keep up.

“Unretiring” has also become a trend in the U.S. Other than in Australia, 82 percent of U.S. retirement returnees reported to going back to work without pressing financial concerns.