This paper presents evidence on how time use changes with age and retirement and discusses implications for pension design. The study is based on a sample of participants aged between 45 and 90 who are representative for the Dutch population. The study shows that the elderly are strikingly active until a fairly advanced age. This may have important implications for an adequate level of retirement spending. The evidence also suggests that it may be worthwhile to (further) facilitate part-time employment among the elderly and to promote informal care provided by elderly for their older peers. Finally, the study also has implications for pension communication.