A note on methods used in this section
Those women who were not retired were asked their intentions and expectations about retirement. Hours of paid work at M4 were divided into no paid work, part-time work, full-time work and long hours, as outlined in the classifications and definitions. The level of education was asked at M1.
Differences between preferences and expectations
The data reveal clearly that retirement is a problematic concept for women. As Figure 9 below shows, almost half of the women who were not retired in 2004 did not know when they expected to retire, and about a third were not sure when they would like to retire.
It is also clear that many women would like to retire earlier than the age at which they expect to retire. Although only 10% expected to retire before they were 60, almost 30 per cent would like to retire before 60.
Figure 9: Intentions and expectations concerning retirement age, M4, % (n~7500)
The percentages of those who expected or wanted still to be working when they were more than 65 are very similar, suggesting that this is a small group of women who are very committed to the work they are doing, although they may not have sufficient savings to retire and be motivated by a desire to accrue more superannuation.
Factors associated with expected age of retirement
This section provides figures showing the age at which women expect to retire, and the age at which they would like to retire, according to the following factors:
- hours of paid work
- non-standard paid work
- education
- occupation
- marital status
- provision of childcare
- provision of caring for frail, ill, aged
Differences between the extent to which women do not know when they expect to retire, compared to when they would like to retire, are generally reflected in the following figures.
Hours of paid work
In the first figure (Figure 10a) below, there is a trend showing that the fewer the hours of paid work that they do, the more likely women are to be uncertain about when they expect to retire. The same trend applies to women's preferences for retirement age (Figure 10b), although it is less marked. Many women working full-time or long hours of paid work show a preference for retiring by age 65 or earlier, suggesting that women find it difficult to cope with demanding hours of work as they get older, as indicated in qualitative comments reported earlier. However, these groups are more likely to have accrued superannuation than women with fewer hours of paid work.
Figure 10a: Expected age of retirement by hours of paid work in previous week, women not retired at M4
Figure 10b: Preferred age of retirement by hours of paid work in previous week, women not retired, M4
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Non-standard forms of paid work
Figure 11a shows the same general lack of certainty about retirement age, but also indicates that some forms of non-standard work, particularly shift work, casual work and self-employment, are more likely to be associated with uncertainty.
Figure 11a: Expected age of retirement by non-standard forms of paid work, women not retired, M4
Figure 11b: Preferred age of retirement by non-standard forms of paid work, women not retired, M4
Education
The less education a woman has, the more uncertain she is about when she might expect to retire (Figure 12a). Women who would like to work beyond age 60 are more likely to have a tertiary education (Figure 12b).
Figure 12a: Expected age of retirement by education, women not retired, M4
Figure 12b: Preferred age of retirement by education, women not retired, M4
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Occupation
There is a very clear indication that women who were not in paid work at M4, as well as those in lower status occupations, are less likely than other women to have a definite idea about when they expect to retire (Figure 13a).
Figure 13a: Expected age of retirement by occupation, women not retired, M4
Figure 13b: Preferred age of retirement by occupation, women not retired, M4
Relationship
Being partnered, whether in a formal marriage or a de facto relationship, affected women's expectations of retirement age. Currently partnered women were more likely than other women to expect to retire at 60 or before.
Expectations were similar for separated, divorced and widowed women, while women who had never married seemed to be the most uncertain about when they might retire.
Figure 14a: Expected age of retirement by marital status, women not retired, M4
Figure 14b: Preferred age of retirement by marital status, women not retired, M4
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Provision of childcare
Whether women were providing childcare or not did not seem to affect their expectations of retirement, nor did expectations differ according to how much childcare was being provided.
Figure 15a: Expected age of retirement by regular provision of care for grandchildren or others' children, women not retired, M4
However, women who were regularly caring for children appeared to want to retire earlier than those who were not caring for children at all, and also those who were only providing occasional childcare.
Figure 15b: Preferred age of retirement by regular provision of care for grandchildren or others' children, women not retired, M4
Regular provision of care
Women who were regularly providing care for someone who was living with them generally would like to retire earlier than the age at which they expected to retire. Almost half did not know when they would actually retire, but one third didn't know when they wanted to retire. This is consistent with the desire that many women have to combine caring with paid work but also suggests the precarious situation for caregivers who often may not know how long their caring responsibilities will last.
Figure 16: Expected and preferred age of retirement by regular provision of care for someone who lives with you, women not retired, M4
Appendix B includes tables that provide further detail about associations between caring responsibilities and women's expected and preferred age of retirement. The first two tables show expected and preferred age of retirement according to the number of people being cared for. The next pair of tables shows expectations and preferences according to the amount of time that women spend providing care on each occasion.