Retirees Say No to Mandatory Retirement Age

Eighty-five percent of retirees recently polled said there should be no mandatory retirement age.

A news release from Extend Health, a Medicare exchange Web site, said that among the respondents in its poll of 431 retirees 65 years old or older who backed a mandatory retirement age, 42% say it should be 65; 31% say it should be 70; 21% say it should be 67; and the remaining 6% say it should be 72.

Seventeen percent of respondents report that despite having retired from a major U.S. corporation, they still earn income by working in a paying job or in their own business. Of those who still work, 62% report they do it to stay active and engaged; 24% say they work to make extra money; and 15% say they work to make ends meet.

Despite the difficult economy, given their own personal financial situations, just 21% say they “retired too early” and 89% said their financial situation is good or fair.  

The survey was fielded October 20-27, 2010.