A little while ago we were asked by a major PLC to carry out a survey to find out what happened to their senior executives after they retired. The results took everyone by surprise!
At any point in time the Company had between 150 and 180 people whom they regarded as senior executives. The Company’s pension scheme permitted senior executives with at least 30 year’s contributions to retire at age 55, but almost all of them retired between the ages of 60 and 65. The age profile was such that in most years around 30 people retired. We were asked to look back over the last 15 years.
We found that just over 60% were still alive. Of those that were not, over 70% who had not had a serious hobby or interest, had died within two years of retiring. Whilst this might not have saddened the pension scheme actuaries, it certainly alarmed the Directors. The Company now provides pre-retirement training for all of its senior executives which includes secondments to voluntary organisations, other forms of voluntary service and, of course, taking up a hobby.
The most popular hobbies currently are:
- Baking
- Beekeeping
- Bridge
- Chess
- Collecting
- Country Ranger
- Hiking
- Knitting
- Painting
- Parish Council
- Playing Ukulele
- Sailing
- Segway Polo
- Skydiving
- Viewing Art
