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Average Age Of Retirement Among American Workers Rises

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(Photo by Michael Kovac/Getty Images for American Express Publishing)

(Photo by Michael Kovac/Getty Images for American Express Publishing)

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(CBS Charlotte) — Working Americans are retiring four years later than they were just a couple of decades ago. Today, the average age of retirement is 61 years old.

The new average age of retirement was revealed in Gallup’s annual Economy and Personal Finance survey.

Several factors, such as a weakened economy, recovery from the recession, demanding jobs, previous unemployment, and a decrease in pension plans/benefits, all play a role in Americans remaining in the workforce past the “expected” age of retirement.

During the survey, more than 2,000 working adults in the United States were asked when they plan to retire or when they retired.

More than half of workers surveyed who were between the ages or 58 – 64, plan to retire after they turn 65 — a trend that may increase the average age of retirement in upcoming years.

-Nichole Jaworski, CBS Charlotte

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