Drawing on job design theories and a conceptual framework of work-related goals and motivation in later adulthood, the aim of this paper is to explore how work-related and individual factors are separately and jointly related to psychological work ability and bridge employment intentions via late job mobility. The cross-sectional study is based on a sample of 171 older Spanish workers aged 45-65 and beyond. We differentiated between groups of older workers in mid career (45-55 years of age) and in their later careers (56 years and beyond). Our results confirm that task characteristics and, secondarily, knowledge characteristics are the most relevant factors in perceptions of psychological work ability among aged workers. Both age groups display a very marked personal mastery trait, which mediates the relationships between job characteristics and both psychological work ability and late job mobility intentions. The paper concludes with a discussion of theoretical and practical implications and suggestions for future research on the issues implied in the psychological adjustment of older workers in their mid and late careers.