Retirement as a mistake: Drexel demands new perspectives for old age!

Retirement as a mistake: Drexel demands new perspectives for old age!

Gerhard Drexel, former CEO of the food company Spar, has made people sit up and take notice with his new book “Retirement Mistake – How the later years become the best”. In this work he highlights the challenges and opportunities that come with retirement. Today, March 31, 2025, Drexel is asking itself whether retirement is actually a worthy goal or should be viewed as a fallacy. As a member of one of Spar's owning families and co-founder from the 1970s, he brings not only personal experience, but also a broad perspective from his many years of work in the company. From 1990 to 2020 he was on the board, and from 2001 to the end of 2020 he took on the role of chairman.

Under Drexel's leadership, Spar was transformed from an Austrian grocer into a major trading group in Central Europe. His resignation as CEO coincided with the assumption of market leadership in the Austrian food trade, after which he moved to the supervisory board. In the year in which he turns 70, Drexel is dedicating intensive attention to the topic of retirement and encouraging older people to live independently.

Retirement as a challenge

Drexel does not see retirement as the end, but rather as a phase that can be sensibly structured. He warns of the possible negative consequences of early retirement, which could, among other things, bring with it an increased risk of dementia. In his book, he cites scientific studies that show that a balanced rhythm of work and rest is crucial for a healthy life. These findings agree with the results of the German Aging Survey (DEAS), which has been examining the living conditions of people aged 40 and over since 1996 and regularly publishes findings on the second half of life, including topics such as professional development, social networks and health well-being.

Drexel is calling on society to adjust the statutory retirement age to reflect demographic changes and increased life expectancy. He believes that older people should remain active even after reaching retirement age and take on meaningful tasks in order to maintain their quality of life.

Tips for active older people

In an accompanying video and podcast, Drexel gives tips on how older people can make sense of their time. His central message is that the state should not punish older people who are willing to work. He encourages you to remain active even in the so-called “post-operative phase” and to actively shape your own life situation.

With his book and the associated media, Drexel wants to give an impetus to rethink the image of retirement and focus on the possibilities and potential of old age. His initiative is particularly relevant at a time when the German population is getting older and the DEAS regularly documents developments in the living situation of older people. The DEAS is carried out by the German Center for Aging Issues and provides important data on the economic situation, retirement planning and quality of life of older people.

The book presentation took place in the Mezzanin restaurant at Interspar in Vienna's Schottengasse, where Drexel presented his concept to a wide audience. Passing on knowledge and experience to the next generation plays just as important a role in Drexel's approach as advocating for a change in society's perception of retirement.