Evaluating Post-Retirement Quality of Life Through the CASP Lens: Evidence from the ELSA Study

As global retirement ages rise in response to financial insecurity, demographic shifts, and increased life expectancy, questions emerge about how these changes affect the quality of later life. While much research has focused on the economic sustainability of delayed retirement, fewer studies have examined whether retiring at or after the statutory age impacts subjective well-being in comparison to early retirement. This study addresses that gap by investigating whether retirement timing, specifically early versus at statutory-age, shapes quality of life in later years. Using cross-sectional data from Wave 7 of the English Longitudinal Study of Ageing (ELSA), retired individuals aged 50 and over were focused upon. The CASP-19 scale (Control, Autonomy, Self-Realisation, Pleasure), a validated measure of older adults’ quality of life based on control, autonomy, self-realisation, and pleasure, was used as the central outcome variable. Using non-parametric statistical comparisons and unsupervised clustering techniques, differences in CASP scores and associated social, financial, and health variables between early and timely retirees were examined. Analysis reveals that early retirees, despite potentially shorter working lives, tend to report better quality of life, particularly in the autonomy and pleasure subscales of CASP. Additionally, we identify distinct post-retirement profiles through cluster analysis, highlighting the importance of relational closeness and financial preparedness in shaping subjective well-being. This study contributes to ongoing debates in social gerontology by offering a nuanced understanding of how retirement timing intersects with psychosocial outcomes in later life. As policies increasingly favour later retirement, these findings underscore the need to consider not just economic sustainability but also the lived experience and perceived quality of life of older adults.