The main argument of this paper is that retirement will retain its importance over the next few decades, despite pressure from governments to encourage workers to delay leaving paid employment. Retirement may prove especially difficult to reverse among the ‘baby boom’ cohorts where an expectation of withdrawing from work at earlier ages has become entrenched. The article examines the policy context influencing current debates. It then reviews data on retirement attitudes and trends in the employment of older workers. The paper concludes by arguing for a ‘broadening’ in the social institution of retirement, with the development of new types of social engagement in formal as well as informal spheres of activity.