Do You Want to Stop Working?

FUTURE PROOF: Two thirds of employees approaching retirement age intend to continue working, but many admit it is not the financial gain that is fuelling their desire to work

Emma Wall 1 September, 2014 | 3:07PM
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Are you aged 50 or older? Do you still work? Chances are even if you have retired from full-time employment you still have some kind of paid work. Thanks to the demise of gold-plated final salary pensions and medical advances prolonging life expectancy, two thirds of workers approaching retirement age admit that they will continue to work in some capacity after they have retired.

While it is unsurprising that many retirees need to supplement their pension income, a recent survey from Towry revealed that a key reason for pensioners continuing employment was for the enjoyment of working. A quarter of the workers aged over 50 they surveyed said they planned to do voluntary work with local charities and in their community.

Towry’s head of retirement planning, Andy James, said: “With people living and staying fitter for longer in retirement – in many cases well into their 80s – those who have carefully laid financial plans for their future now have the flexibility to choose whether they continue working during retirement.”

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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