Retirement is bad for ones health ,a new study says .
The study, published by the Institute of Economic Affairs (IEA),found that retirement results in a “drastic decline in health” in the medium and long term. The IEA said the study suggests people should work for longer for health as well as economic reasons.
Retirement is found to increase the chances of suffering from clinical depression by 40%, while you are 60% more likely to suffer from a physical condition. The effect is the same for men and women, while the chances of becoming ill appear to increase with the length of time spent in retirement.
The study, which was published in conjunction with the Age Endeavour Fellowship, a charity, compared retired people with those who had continued working past retirement age, and took into account possible confounding factors.
Philip Booth, programme director at the IEA, said the government should go further to deregulate labour markets and allow people to work for longer.