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This shift matters because it marks a fundamental change in how people transition out of the workforce — with important implications for financial security in later life.

The decision to retire is no longer driven purely by personal preference or age alone. It’s increasingly shaped by policy, housing wealth, super balances and whether someone can afford to stop working.

In 2003, about 70% of women and almost half of men aged 60–64 had fully retired from the workforce. Twenty years later, those numbers have fallen to 41% and 27% respectively. For people aged 65–
69, retirement rates have also dropped – from 86% to 66% among women, and from 73% to 61% among men.

These figures come from the latest annual report from the Household, Income and Labour Dynamics in Australia (HILDA) Survey, released recently.

The HILDA Survey has been following the same households every year since 2001, which makes it possible to examine how the lives of Australians have changed across several aspects. Funded by the
Australian government and managed by the Melbourne Institute, the survey is one of Australia’s most valuable social research tools.
Here’s what the data found.

_{Source: https://theconversation.com/1-in-3-australians-in-their-late-60s-are-still-working-new-hilda-survey-shows-265392}