- Nearly half (49%) of UK doctors surveyed believe age is a determining factor in assessing a doctor’s ability to practise medicine, with only 10% supporting working beyond the age of 70
- Doctors surveyed stated that age should not be the sole deciding factor in retirement, with the vast majority (85%) highlighting the importance of individual aptitude, and 70% noting that specialty should also be considered
- Among doctors planning later retirement, nearly two in five (37%) cited financial concerns
LONDON–(BUSINESS WIRE)–The Medscape UK Doctors and Life After Medicine report, released today, reveals that age is seen as a significant factor in determining the ability to practise medicine, with only 10% supporting doctors working beyond the age of 70.
Financial pressures are also shaping retirement decisions. Four in ten (43%) doctors plan to keep working into their late 60s and beyond, citing personal fulfilment and a belief that they still have more to contribute. For others, continuing to work was due to necessity, with 37% feeling they hadn’t saved enough for retirement.
A career in medicine is often seen as a vocation, and around two in three doctors (64%) surveyed said they expected to lose part of their identity once they retired from the profession. Doctors under 45 and female doctors were less confident about their retirement income and expected to rely on personal savings to retire comfortably.
“The survey findings highlight that doctors have other motivators for continuing to work beyond the traditional retirement age,” said Peter Russell, Managing Editor, Medscape UK. “While age can, of course, be a determining factor, retirement from medicine remains a highly personal decision, based on lifestyle, overall wellbeing and financial readiness.”
Around one in four (26%) doctors said they planned to boost their income through property sales or rental. Others mentioned locum work, second careers, or even playing the lottery. The survey also found that men were more inclined to continue working later in life, while women were more likely to leave before reaching their 50s.
Approximately one in six doctors (16%) expressed interest in pursuing a non-medical career after leaving medicine. This option was twice as popular among those under the age of 45.
“Retiring from the medical field is a big step and can offer doctors more opportunities when it comes to leisure and travel. However, it’s essential that all medical professionals feel financially secure and supported when transitioning out of practice.”
The Medscape UK Doctors and Life After Medicine Report is available here:
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