How does women's life satisfaction respond to retirement? A two-stage analysis

- We find an overall positive effect of retirement on women's life satisfaction in Australia.
- We quantify the adjustment of life satisfaction to retirement as a two-stage process.
- Transition to retirement leads to an immediate increase in life satisfaction.
- The life satisfaction of female retirees decreases with retirement duration.
- Women's life satisfaction at all stages of their retirement life is higher than its pre-retirement level.

We quantify the adjustment of women's life satisfaction to retirement as a two-stage process. The transition to retirement leads to an immediate increase in women's life satisfaction. After becoming retired, their life satisfaction declines with the duration of retirement.