Retirement has a detrimental impact on mental and physical health, a new study has found. The study, published by the Institute of Economic Affairs (IEA), a think tank, found that retirement results in a “drastic decline in health” in the medium and long term.
The IEA said the study suggests people should work for longer for health as well as economic reasons.
The study compared retired people with those who had continued working past retirement age, and took into account possible confounding factors. The study suggests there is a small boost to health immediately after retirement, before a significant decline in the longer term.
Retirement is found to increase the chances of suffering from clinical depression by 40 percent, while you are 60 percent more likely to suffer from a physical condition.