Retirement Patterns Among Aged Men: Findings of the 1963 Survey of the Aged

AII+lK WHO AlR11: in low-paid work are nlore likely to retire tluln tlrose in well-paid occnpt ions. ,\ltliougll most nlen retire involuntarilylw~use of poor lmltll, for esan~1)le, or because they linre reached it c~~n~l~ulsory retirement agevoluutnry ret irenients are increasing. Becoin iup eligible for retirement benefits is the most. comnlon reason givei) by men who are not, old-age, surrirors, and disability insurance (OASI>I) beneficiaries for plamiing to retire. Most of the O,k3I)I l)enefKaries who retired before they renclied age 65 were in economically distressed circumstnnces. These are some of the main findings on retirement that resulted from the 1963 Survey of the -\getl made by the Social Security A\dniinistr;ltio1i.l In the Survey, for the first. time, (l;it:b were gathered on the retirement patterns of both O,~SI)I beneficiaries’ and nonbeneficiaries. These data, for meii, are analyzed in the following pages in terms of occupation before retirement, reasons for retirenieut, plans for retirement, and retireuleirt hefore age 65.