Contrary to general perceptions, the follow-up of new retirees on an old-age pension revealed that, on average, their subjective economic well-being weakened relatively little. when comparing by country.
In the Nordic countries (with the exception of Iceland), income level is high before retirement and remains virtually unchanged after retirement. In the countries of Eastern and Southern Europe, on the other hand, pre-retirement income level tends to be lower to begin with and continues to weaken after retirement.
Figure 1. Subjective economic well-being in 29 European countries 2010-2013, mean
Retirement is an individual process: some india rcs data retire from work, some from unemployment and some from other states outside of the workforce.
The income of those who retire from employment tends to decline while it is likely to rise for those who are unemployed. For others, it varies. Taking into account change of income on a more detailed individual level did not change the fact that the financial satisfaction of those retiring from employment declined while it improved for those who retired from unemployment (in particular) but also for those who retired from other activities.
The results may indicate that the income generating from different sources, for example, from work, an unemployment allowance or a pension, come with different expectations.