The study, titled "Work Longer, Live Healthier," was conducted by the Institute of Economic Affairs.
The study's author, Gabriel H. Sahlgren, a research fellow at the institute, analyzed data from a survey of 11 European countries that sampled 7,000 to 9,000 people between the ages of 50 and 70 using two separate methodologies.
He found that retirement had a "consistent negative impact" on physical health that worsens as the number of years spent in retirement increase.
Sahlgren found that when comparing older people who were still working with those who were retired, retired people were 39 per cent less likely to assess their own health as "very good" or "excellent"; 41 per cent more likely to suffer from depression; 63 per cent more likely to have at least one physical condition; and 60 per cent more likely to be taking medication for such a condition.
Read the original article and watch the report here.