Retirement has long been imagined as a time of freedom and rest, but new research suggests the psychological benefits of leaving work are far from universal. A study led by the University of Edinburgh has found that the impact of retirement on mental wellbeing is shaped by factors such as income, job type, marital status, and the age at which people retire. While most individuals do experience a lift in mental health after stepping away from work, some groups face a far more uneven journey.
The analysis, which drew on surveys from 1,583 Dutch participants collected between 2007 and 2023, tracked people’s mental health across three phases: the years leading up to retirement, the transition itself, and the years afterwards. Using the Mental Health Inventory, which measures psychological wellbeing alongside symptoms of anxiety and depression, the researchers assessed changes across an average retirement age of 66 to 67. The findings reveal that not only does retirement affect individuals differently, but its benefits may also fade with time.
Low-income retirees reported the poorest outcomes overall. Although their mental health improved when they first left work, these gains were short-lived, with many experiencing a decline around two and a half years into retirement. People on average incomes saw more substantial improvements in wellbeing before retirement and modest gains afterwards, though those in physically demanding jobs consistently fared worse than their peers. High-income earners showed little change in their mental health before leaving work but experienced a sharp boost once they retired; however, those who prolonged their careers experienced slower improvements, suggesting that delayed retirement may blunt its mental health benefits.
Beyond income and occupation, social and demographic factors played a significant role. Women, unmarried individuals, and those on low incomes at the point of retirement all reported substantially lower mental health scores compared with other groups. These disparities highlight how retirement is intertwined with broader social inequalities, influencing the extent to which people can enjoy later life.
The study is among the first to evaluate retirement as a process rather than a single moment, offering insights into how wellbeing evolves. Following people across a span of more than a decade highlights the complex interplay between financial security, job conditions, personal circumstances, and the timing of retirement. Importantly, it shows that mental health trajectories can diverge sharply depending on the resources and resilience individuals bring with them into this new stage of life.
Researchers argue that these findings carry important implications for policymakers. Targeted interventions help address the risks faced by vulnerable groups, particularly those with low incomes or high job demands, who are less likely to experience lasting benefits from retirement. As populations continue to age and debates over raising retirement ages intensify, understanding these differences will be crucial in ensuring that the rewards of retirement are more evenly shared.
More information: Xuefei Li et al, Mental health trajectories surrounding retirement: A longitudinal perspective, SSM – Mental Health. DOI: 10.1016/j.ssmmh.2025.100470
Journal information: SSM – Mental Health Provided by University of Edinburgh
