Aims: The age of retirement has financial implications as we tend to live longer, with the result that an increasing number of older inhabitants have to share limited financial resources. However, this is not only a financial issue. It is also of interest to investigate factors related to health and quality of life associated with the age of retirement. The aim of this study was to investigate changes in mood, activity level, and cognition at the age of 66 associated with leaving working life before 60. Methods: Baseline and follow-up data on 840 participants of the Swedish National Study on Aging and Care - Blekinge was used. Mood was measured by the Montgomery-sberg Depression Scale and activity level by 27 survey items. Cognition was measured by the Mini Mental State Examination. Results: Retirement before 60 years of age was not associated with lower cognitive functions and a higher score on depression at baseline, but retirees were less active. Six years later, at the age of 66, a decline in their cognition was found. Retirees were still not more depressed but less active. In a logistic regression analysis, being retired increased the odds ratio for cognitive decline by 1.36-times (OR 2.36) when gender, activity level, education level, and depression were adjusted for. Conclusions: Participants who retired before the age of 60 declined in cognitive ability over the 6-year study period.