The number of men working into their 70s has leaped from one in 10 to one in four in the past 20 years.
The age at which men are expected to retire has increased by 2.2 years to 67 since the 2014-15 period, according to an analysis by KPMG Australia of data from the ABS Labour Force Survey.
For women, it has climbed by 1.1 years to 65.3 years.
The research also shows 10 per cent of men in their late 70s are still in the workforce.
KPMG urban economist Terry Rawnsley notes that raising the age for access to the pension to 67 has prompted many people to extend their work life, while others choose to work beyond the official retirement age voluntarily.
Rawnsley explains, “People seek mental engagement. They want a reason to get out of bed a few days a week, and receiving a bit of extra income is beneficial as well.”
He links this trend to changes in the nature of work, highlighting that older workers find it more manageable to use a laptop than engage in physically demanding jobs.
“The widespread adoption of working from home has led many older Australians to realize they can ‘semi-retire’ and still participate in part-time work,” Rawnsley added.
Professor Andrew Brooks, 76, has worked as a urologist at Westmead Hospital for 40 years.
He currently works four and a half days a week, consulting and conducting minor surgeries.
“You can’t walk along the beach eight hours a day, seven days a week. You need something more exciting in your life,” he said.
