The Retirement Newsletter: I am not “economically inactive” — I am retired!

Issue Number: -46 — Are the retired “economically inactive”?

Photo by Mathieu Stern on Unsplash

Welcome

Welcome to issue number -46, where I wonder if I will become “economically inactive” when I retire.

At the start of this week’s newsletter, the image could be viewed as the “economically inactive” — that is, the person is not doing any work and is sitting on their money and not spending it. Just reading a newspaper — which they will have bought, so there is some economic activity.

Are retirees “economically inactive”?

The Office for National Statistics in the UK defines “economically inactive” as:

“People not in employment who have not been seeking work within the last 4 weeks and/or are unable to start work within the next 2 weeks.”

So, by that measure, the retired are “economically inactive” — but are they?

They will not have been in employment in the last four weeks, and while they could start work in the next two, they don’t want to.

Will I be ‘economically inactive’ in 46 weeks?

The “economically inactive”