The Influence of Push and Pull Factors on Voluntary and Involuntary Early Retirees' Retirement Decision and Adjustment

While both push (e.g., poor health) and pull (e.g., leisure interests) factors have been found to influence the decision to retire and adjustment after retirement, no published studies have examined how perceptions of these factors differ for voluntary versus involuntary early retirees. Nine-hundred and ninety-two early retirees from wave one data (collected in 1992) of the Health and Retirement Study were examined on both push and pull factors, as well as on their postretirement adjustment. Results from discriminant function analyses indicate that both push and pull factors were important differentiators when deciding to retire. After retirement, the push (or negative) factors became more salient differentiators. In addition, those who perceived their retirement to be voluntary had higher life satisfaction scores and rated themselves as healthier (both physically and mentally) than those who perceived their retirement as involuntary.