Why work past retirement age? 60% of older workers have less than $500K in savings

older woman looking at papers in shock (Photo: Shutterstock)

More workers seem poised to work after retirement out of necessity, and employers should refine retirement planning to help them, according to a new report.

The report, “Employment Extenders: A (labor) force to be reckoned with,” resulted from a survey of older adults working past retirement – which the report calls employment extenders – that was commissioned by Voya Cares in collaboration with Easterseals and conducted by Edge Research. Respondents included both those who are 50 and older who previously retired from one career but are working at another job today and those who are at least 65 and plan to continue to work past retirement age, retiring at age 70 or later (or not at all).