Is the so-called "traditional" retirement age a relic of workforces past? If a growing number of baby boomers and Gen Xers had it their way, it would be. And it'd be replaced with a more gradual exit from the workforce that gives employees more control over their departure.
In fact, one in three workers in the U.S. over age 50 desires a phased approach to retirement, according to the 2024 Global Benefits Attitudes Survey of 10,000 workers performed by advisory and brokerage firm WTW (formerly Willis Towers Watson). The survey finds 15% of these workers have already started to phase out of work—by reducing hours or responsibilities, for example—and another 19% plan to in the future.
