From the Guidelines
Doctors typically retire between the ages of 65 and 70, with many transitioning to part-time work in their early 60s before fully retiring. The retirement age for doctors can vary widely based on individual circumstances, such as physical stamina, cognitive abilities, financial preparedness, practice ownership, and personal goals 1. Some studies suggest that surgical specialists tend to retire earlier, around 60-65, due to the physical demands of their specialty, while primary care physicians often practice longer, sometimes into their 70s 1.
Factors Influencing Retirement
- Physical stamina: The physical demands of medical practice can influence retirement timing, with some doctors retiring earlier due to declining physical abilities.
- Cognitive abilities: Cognitive decline can also impact retirement timing, with some institutions implementing neurocognitive screening tests for physicians aged 65 and older 1.
- Financial preparedness: Financial independence can allow some doctors to retire earlier, while others may delay retirement due to financial needs.
- Practice ownership: Doctors who own their own practices may have more flexibility to transition to part-time work or retire earlier.
- Personal goals: Some doctors may delay retirement due to professional fulfillment or a desire to continue practicing medicine.
Trends in Physician Retirement
The trend of part-time cardiologists as a percentage of the total physician workforce has been decreasing over the years, from 14.0% in 2012 to 5% in 2018 1. This suggests that many doctors are choosing to continue practicing medicine, albeit in a part-time capacity, rather than fully retiring. Institutions and practices should consider allowing for a transition to no call, solely outpatient, and reduced hours schedules for senior cardiologists, who can continue to be productive for many years after a slowdown 1.
From the Research
Average Age of Doctor Retirement
The average age at which doctors retire varies depending on the country, specialty, and other factors.
- A study of UK doctors found that the average actual retirement age was 59.6 years, with men retiring at an average age of 59.9 years and women at 58.9 years 2.
- In contrast, a study of physician assistants in the US found that the mean age of retirement was 61 years, with a range of 47-75 years 3.
- A study of Norwegian doctors found that the mean age of retirement was 68.5 years, with younger doctors and female doctors retiring at a lower age 4.
- A study of Australian general practitioners found that 63% of GPs intended to work until at least age 65, with men more likely to retire early 5.
- A study of Canadian physicians found that the average age at retirement was 65.1 years, with women and physicians working in rural areas retiring earlier 6.
Factors Influencing Retirement Age
Several factors can influence the age at which doctors retire, including:
- Specialty: Some specialties, such as psychiatry and general practice, may have earlier retirement ages than others, such as surgery and hospital medicine 2.
- Gender: Women may retire earlier than men, although this can vary depending on the country and specialty 2, 6.
- Location: Physicians working in rural areas may retire earlier than those working in urban areas 6.
- Workload and job satisfaction: Doctors who experience high levels of stress and burnout may be more likely to retire early 5.