Life satisfaction of working retirees in Europe

Abstract Objectives. With the increased prevalence of working after retirement, questions are raised about its consequences for life satisfaction. This study examines differences in life satisfaction between full retirees and working retirees in Europe. We hypothesize that these differences depend on the financial resources of retirees and the resources available in the household and country context. Method. We selected retirees aged 60 to 75 from the ‘Survey of Health, Aging and Retirement in Europe’ project (N = 53 242) and estimated country fixed effects models to explain their life satisfaction. Results. The results indicate a positive relationship between working after retirement and life satisfaction for retirees with low pension income without a partner. Additionally, working after retirement seems to be most important for life satisfaction in relatively poor countries. Discussion. The study results suggest that financial resources are an important boundary condition for understanding the impact of working after retirement on life satisfaction in Europe