The Origins of Retirement 

Retirement as a formal concept dates back to 1889, when German Chancellor Otto von Bismarck introduced the world’s first state pension system. At the time, life expectancy in Germany was just under 50 years old, and the retirement age was set at 70 — a political move as much as a social policy, since very few lived long enough to claim it (Pettinger, 2019). Over time, however, this concept became embedded in global economic and cultural systems, particularly in the West, shaping the way we think about ageing and work. 

Rethinking the Three Stages of Life 

The classic “three-stage life” — education, work, retirement — was never meant to stretch across an 80-,90-, or 100-year lifespan. But that’s exactly where we are. According to the World Health Organization (2023), global life expectancy has increased by over 20 years since 1950. The 100-Year Life by Gratton and Scott (2016) argues that this traditional model no longer fits modern longevity. They propose a “multi-stage life,” with work, rest, learning, and reinvention distributed across the decades. 

What if we didn’t wait until the end to reclaim our time? What if we thought of retirement not as a destination, but as a rhythm we could integrate throughout life? 

The Financial Reality 

This isn’t just philosophy — it’s practical. Many people simply will not be able to afford a long retirement. The World Economic Forum (2019) estimates a global retirement savings gap of $400 trillion across major economies by 2050. Many modern workers — especially freelancers and gig workers — have no employer-sponsored pension at all. Meanwhile, rising housing costs and stagnant wages have made it harder to build wealth in the first place. 

Countries like Sweden have started to experiment with flexible pension systems that allow people to draw down gradually (OECD, 2021). In Japan, over 25% of the labor force is aged 65 or older (Ministry of Internal Affairs and Communications, 2023). There, companies are rethinking job design, and many older workers choose to stay employed for reasons beyond income — such as connection and purpose. 

The Upside of No Retirement 

Continuing to work — on your own terms  — can bring huge benefits. Research by the Institute of Economic Affairs (2013) found that retirement increases the risk of clinical depression by up to 40%, and the risk of physical illness by 60%. A study from Harvard’s T.H. Chan School of Public Health (2015) similarly found that working longer can delay cognitive decline and reduce the risk of dementia. 

The takeaway? Staying engaged and mentally active into later life is good for health, purpose, and well-being. This doesn’t mean working 9-to-5 forever —it means creating flexible pathways for contribution. 

But Let’s Not Romanticise It 

Not everyone wants —  or is able — to work forever. For people in physically demanding jobs or with chronic illness, the idea of “no retirement” is not empowering, it’s exhausting. In the U.S., AARP (2023) reports that 1 in 5 adults over 65 are still working, many because they simply can’t afford to stop. As inflation bites, that number continues to grow. 

Any shift away from retirement as a universal model must include support for the most vulnerable. That means protecting dignity and ensuring security for people who can’t — or shouldn’t— be working in old age. 

Moving Toward Innovation, With Caution 

We’re living in a transitional moment, where the structures of modern life are bending under the pressure of longevity, shifting economies, and evolving identities. As uncomfortable as it is, we need to innovate. Rethink. Reimagine. 

That means designing life stages that blend work and rest across time. It means financial systems that allow people to pause and return, reskill and reinvent. It means more compassion — and more flexibility. 

The age of no retirement isn’t about glorifying hustle culture. It’s about building a world where people can engage meaningfully on their own terms, with support. 

Maybe, just maybe, it’s time to retire the idea of retirement itself.