Flexible Pensions Allow Britons to Work Past Retirement

FUTURE PROOF: A third of pensioners in the UK continue to work past retirement age, while our European counterparts stop altogether

Emma Wall 11 August, 2014 | 12:07AM
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Four in 10 British workers expect that they will continue to work past the age of 65, with a further 14% predicting they will have some form of part-time employment.

Changing attitudes towards retirement in Britain mean that 65 is no longer retirement to be the end of an individuals working life. This contrasts with our European counterparts who consider retirement to begin once they have stopped full-time work at 65. In France half the population intend to stop work altogether at this age.

While there are both health and financial benefits to working past State Pension age, there are concerns that many workers are working longer as they have failed to make sufficient provisions earlier in their careers. According to the Retirement Readiness Study from Aegon, only 12% of people have a structured financial plan for retirement – while four in 10 have no idea how they will fund retirement at all.

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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