More Californians Working Longer

April 3, 2007 ( - In an era that has seen renewed interest in phased retirement to allow people to enjoy working longer, a new study has found that older Californians are doing exactly that.

The California Budget Project survey found that the percentage ofGolden State working women age 55 to 69 climbed 9.2% since 1995 and a comparable figure for men leaped by 10.6% in the same period, a news release said.

Generally, the report said, nearly 62% of Californians ages 55 to 64 were employed last year, compared to 58.6% in 2000 and 54.2% in 1995.

According to the report, there was a smaller increase during the same period among Californians 65 to 69 years old. In that age group, 26.5% were employed last year, compared to 22.1% in 2000 and 19.6% in 1995.

As reasons for the trend, the study cited:

  • longer life expectancy,
  • a healthier older population,
  • a desire among retirement-age people to stay active; and
  • economic factors.

Nationally, 72% of workers ages 55 to 59 and 60% of workers ages 60 to 65 cited financial reasons for continuing to work.

The report said the percentage ofCalifornia workers with a job-based pension plan dropped from 57.7% in 1980 to 49.4% in 2004.

A report summary is here .

The California Budget Project is a nonpartisan research group that focuses on public policy matters, according to the announcement.