Recent studies suggests that retirement detrimental impact on mental and physical health,
The study, published by the Institute of Economic Affairs (IEA), a think tank, found that retirement results in a "drastic decline in health" in the medium and long term.
the study suggests people should work for longer for health as well as economic reasons.
It further suggests that there is a small boost to health immediately after retirement, before a significant decline in the longer term.
Retirement is found to increase the chances of suffering from clinical depression by 40%, while you are 60% more likely to suffer from a physical condition.
The effect is the same for men and women, while the chances of becoming ill appear to increase with the length of time spent in retirement.
"More employers need to consider how they will capitalise on untapped grey potential and those seeking to retire should think very hard about whether it is their best option."
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