Retirement as a research topic has become increasingly prominent in the psychology literature. This article provides a review of both theoretical development and empirical findings in this literature in the past two decades. We first discuss psychological conceptualizations of retirement and...

We revisit the alleged retirement consumption puzzle. According to the life-cycle theory, foreseeable income reductions such as those around retirement should not affect consumption. However, we first recall that given higher leisure endowments after retirement, the theory does predict a fall of...