Postretirement Career Planning: Testing a Model Based on Social Cognitive Career Theory

Many countries are exposed to challenges due to demographic change. Keeping employees in the workforce beyond retirement age could help counter these challenges. Thus, extending the knowledge on the process of postretirement career planning is important. Therefore, drawing on social cognitive career theory, we develop and test a model for postretirement career planning in this study. An online survey including measures of occupational self-efficacy, interest in occupation-related activities as well as postretirement career outcome expectations, intention, and planning activity was completed by 124 individuals working in different occupations in Germany. Participants were aged 49–65 years and 54% were male. Findings suggest that self-efficacy, outcome expectations, and interest are important factors in postretirement career planning. Altogether the predictors accounted for 37% of variance in postretirement career intention and 9% of variance in planning activity. Based on our findings, we discuss options to foster postretirement career planning.