Healthy finances but poor health: a qualitative study of Australian older white-collar workers

Abstract

Background As governments become more concerned about the costs of supporting an ageing population, some have adopted policy levers to incentivise mature labour force participation. Since 1 July 2023 Australia has increased the age at which government-provided pensions can be accessed from 65 to 67. Currently, some people work beyond 67 even though they can afford to retire, while others leave the workforce well before 67, often because of failing health, thus contributing to a loss of workplace expertise.Theory Here, we examine what features encourage workers to remain in employment, despite two disincentives; sufficient retirement savings, and poor health. In the context of the Australian knowledge economy, we consider theories about a micro-policy lever; workplace culture and practices to retain older workers in the workforce. We propose that support for older workers’ specific health and social needs are part of this micro-policy lever.Method We conducted in-depth interviews with 12 older white-collar workers with existing health problems to examine their complex deliberations about whether to remain working or not.Findings We found that feeling valued and receiving managerial support to accommodate older workers’ health requirements are key reasons for remaining at work.Discussion If workplaces aspire to retain their workforce well into their sixties, they need to demonstrate that they value older workers and flexibly accommodate their health conditions.