One of the reason that the face of retirement has changed so much in recent decades is that more and more people are working past the age of 55. For a long time, after the introduction of Social Security and the end of World War II, the percentage of older people who remained in the work force steadily declined.
By 1993, only 29 percent of people older than 55 were in the labor force. But from that point forward, the trend reversed itself. As of 2012 more than 41 percent of those over 55 were still in the labor force, the highest that number had been since the early 1960s.
A survey from the Federal Reserve last week signaled that this might continue to be the case for a while. More than 20 percent of people the Fed surveyed said their plan for retirement is “to work as long as possible” - and the number of people saying this gets higher as the respondents get older.
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