- In 2020-21, 56% of retirees were women.
- The population of retired women increased more than men.
- On average, women retire sooner than men. However, women are retiring later than in previous years.
|People aged 45 years and over|
|Retirees||3.8 million||4.1 million||+0.3 million|
|Proportion retired||40%||40%||No Change|
|Average age of retirement||55.4 years||56.3 years||+1.0 years|
|Men aged 45 years and over|
|Retirees||1.7 million||1.8 million||+0.1 million|
|Proportion retired||37%||37%||No Change|
|Average age of retirement||59.5 years||59.3 years||-0.2 years|
|Women aged 45 years and over|
|Retirees||2.1 million||2.3 million||+0.2 million|
|Proportion retired||42%||43%||+1 pts|
|Average age of retirement||52.1 years||54.0 years||+1.9 years|
- Data sourced from Table 2 in Data downloads and combines data from different iterations of the survey and measures. State breakdowns are also available in Table 2.
Of the 140,000 people who retired in 2020, the average age at retirement was 64.3 years. For men, the average age was 65.4 years and for women the average was 63.7 years.
- Note: It is important to consider the relative size and structure of the ‘baby boomer’ age cohorts when looking at changes in the number of retirees over time.
- Data sourced from Table 14 in Data downloads. State breakdowns and estimates for previous surveys are also available in Table 14.
The latest data presented in this release of Retirement and Retirement Intentions was collected between July 2020 and June 2021 and reflects the labour market conditions at that time. ABS advises caution when analysing the reasons why people were retired or could not work during this time. As seen in other ABS releases, the increase in people reporting 'Other' for some questions reflects pandemic-related factors.