Wellbeing and Retirement in Europe: A Systematic Review with Meta-Analysis

Background/Objectives: Given the observed increase in life expectancy within Europe, it is anticipated that there will be a growing number of retirees and a lengthening of the retirement phase for individuals. This has brought attention to the examination of how the disengagement from professional endeavors influences overall wellbeing. The objective of this investigation was to conduct a comprehensive literature review spanning the period from 1998 to 2024, focusing on the intersection of retirement and wellbeing. Methods: This review (PROSPERO reference: CRD42024621454) was based on scientific articles available in PsycInfo, PubMed, Scopus, SPORTDiscus, and Web of Science, resulting in the inclusion of 32 articles in the systematic review, of which 12 were eligible for meta-analysis. The quality of evidence was evaluated based on the Quality Assessment Tool for Observational Cohort and Cross-Sectional Studies checklist. Results: The meta-analysis results revealed that the observed effect size was d = 0.383, considered moderate. This value was statistically significant (Z = 3.197; p = 0.001) with a 95% CI [0.148, 0.617]. The publications were subjected to qualitative analysis, taking into account study type and thematic content. The discernible outcomes were categorized as follows: (1) expectations regarding retirement, (2) preparation for retirement, (3) family relations and grandparenting, (4) quality of life and satisfaction with retirement, and (5) health consequences of retirement. Conclusions: The prevalent approach predominantly comprised quantitative investigations, with a particular focus on exploring the nexus between retirement and health implications, particularly in the context of European participants. This emphasis on health consequences provides a deeper comprehension of this association.