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Retirement still out of reach for those with Connecticut administrative jobs?

Posted on June 4, 2014

Retirement may be yet a few more years away for those who hold Connecticut administrative jobs, among other types of jobs, according to a recent survey from Careerbuilder.

A majority (58 percent) of workers age 60 or older say they are currently putting off retirement; however, this is down from 61 percent in 2013 and a peak of 66 percent in 2010.

Forty-five percent said they’ll look for work post-retirement—a significant 15 point drop from 2013 (60 percent). This could be a sign mature workers are gaining more confidence in their finances as retirement nears or that better access to health insurance is lessening the need to work before reaching Medicare eligibility.

Among those who do plan on working post-retirement, consulting, retail and customer service work are the most popular disciplines.

Economic factors are the most significant roadblocks to retirement, but working late into one’s life is often a voluntary choice, the survey found. The following are the top reasons workers delay retirement:
• I can’t afford to retire financially: 79 percent
• I need the health insurance/benefits: 61 percent
• I enjoy my job: 49 percent
• I enjoy where I work: 46 percent
• I fear retirement may be boring: 27 percent

A third (34 percent) of employers said they received applications from mature workers (age 50+) for entry level positions. Seventy-seven percent of employers said they’d consider hiring a mature worker for a job they are overqualified for; only 9 percent said they wouldn’t on the basis of not being able to match salary demands.