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Tip Sheets
Thinking About Work After Retirement?
If you answered "yes," you’re not alone. According to Statistics Canada, in 1992, 1.2 million Canadians 55 and older still worked full- or part-time. By 2002 that number had jumped almost 50 per cent to 1.7 million. These statistics show that as a society, our approach to retirement is changing.
Start planning now
You may have just started thinking about retirement. Or you may have taken an early retirement and are now thinking about going back to work. Whatever your situation, careful planning is the key to making a successful transition to post-retirement employment. Knowing your skills, interests, needs and wants will help you to build your enthusiasm, focus your job search and overcome any barriers you might face.
This article will help you identify your skills and resources and evaluate your work options after retirement.
Your financial reality
If you’re still working
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What is your employer’s retirement policy? What income will you receive from your pension plan? Ask your employer or human resources contact for this information.
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What non-pension retirement savings do you have and what will they pay you on retirement?
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How much income will you need after retirement to support yourself in the lifestyle you prefer? You may want to talk to a qualified financial planner for help. To find a financial planner, ask at your financial institution or visit the Financial Planners Standards Council website at www.cfp-ca.org
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What federal government pensions and support are you eligible to receive and when? For more information, visit the Social Development Canada website at www.sdc.gc.ca and choose Life Events, then Retirement or call the Income Security Programs phone line toll-free at 1-800-277-9914. |
If you’re retired and thinking about returning to work
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How will retiring but continuing to work affect your taxes? Visit the Canada Revenue Agency website at www.cra-arc.gc.ca and choose Forms and Publications, click on Client group, then Seniors. Under Guides, choose When You Retire or call toll-free at 1-800-959-5525. |
Your health and lifestyle
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How will your ability to work post-retirement be affected by your health or by your responsibility to care for a spouse or other family member?
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How will you balance your work with leisure or family time? |
Your skills
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What are your technical or "hard" skills (those related to a specific occupation or job)? Do you need to update them? Do you want to continue using these skills at work?
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What are your transferable or "soft" skills (key skills used in almost any kind of work)? To find out more about soft skills, read Marketing Your Soft Skills (see Other Relevant Tips).
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What skills have you gained from non-work activities, like hobbies or volunteering? |
Think about what you want from a job
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Besides a paycheque, what are your reasons for working after you retire? |
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What kind of work energizes you? What do you love to do? |
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What kind of work tires you? |
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What do you miss—or if you’re still working, what will you miss—about work? |
Look at your options
With your many years of experience, you may have more options than ever before. If you already have an adequate pension and are no longer supporting a family, you may have the freedom to choose work to suit your interests and passions.
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Stay where you are
Some employers are beginning to use phased-in retirement as a way to deal with labour and skills shortages. Depending on your employer’s retirement policy, you may be able to: |
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work part-time |
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job share with a co-worker |
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work on a contract basis or as a consultant. |
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Be sure to check with the Canada Revenue Agency to find out how your taxes will be affected. |
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Move sideways
You may decide to look for work in the same or a similar occupational area and: |
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work for a new employer at a job similar to the one you had before retirement |
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use your skills in a different way (e.g. a carpenter who moves from the construction industry to a woodworking shop) |
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emphasize different skills (e.g. a graphic artist who works part-time as a paper products representative) |
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work as a consultant or start a related business. |
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Move in a different direction
You may decide to try something new, such as: |
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using your transferable skills in a new area (e.g. using management skills to work as a fundraiser for a not-for-profit organization) |
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turning something you’re passionate about into a new career (e.g. an avid skier who works part-time as a ski instructor) |
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turning a hobby into a business (e.g. a quilter starting a web-based quilting supply business). |
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Work the alternatives
Looking for the flexibility that will let you spend more time with family or pursue other interests like travel or hobbies? You may want to: |
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explore alternatives to full-time employment |
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consider part-time work, consulting, job sharing, on-call work, temporary assignments and other alternatives that allow you more freedom |
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find out more about work alternatives—read the Alternatives to Traditional Full-Time Employment (see Other Relevant Tips). |
Smooth the transition
Use the following suggestions to smooth your transition to post-retirement employment:
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Look for work with an organization that values a diversity of age and experience. You want an employer who’ll let you work as long as you want and are able to.
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Ease into the transition. If you’re interested in something new, take a course or try multi-tracking—working part-time at your current job and part-time at your new interest.
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Network. Let your co-workers, friends and community contacts know about your plans.
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Keep your skills, contacts and resumé up-to-date. You never know when an opportunity might come up.
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Take advantage of positive beliefs employers have about older workers—commitment, reliability and a strong work ethic—and deal with any negative beliefs about older workers, such as an unwillingness to try new things. To find out more about this topic, read the articles Over 45? Don't Make it Easy to Screen You Out and Over 45 and Looking for Work? (see Other Relevant Tips). |
Working after retirement can be a great opportunity for you to do more of what you love, to contribute your skills and experience and to increase your financial security. Careful career planning will help you make the most of this opportunity. Balance is especially important at this stage in your career—look for flexibility in the work you choose, so you’ll have time to enjoy the things that mean the most to you.
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download an online copy or order the publication from the Publications website at alis.alberta.ca/careershop |
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call the Alberta Career Information Hotline at 1-800-661-3753 toll-free or 780-422-4266 in Edmonton |
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visit your local Alberta Employment and Immigration service centre. To find the centre nearest you, call the Alberta Career Information Hotline. |
Last Updated: May 30, 2006
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