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Two thirds of retirees to stay in employment – survey

by: Carmen Reichman
  • 29/08/2014
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Two thirds of retirees to stay in employment – survey
Two thirds of employees approaching retirement are planning to stay in either paid or unpaid work once they retire from their full-time jobs, a survey suggests.

Of those aged 50 or over in full-time employment 65% intend to stay in work, more often because they enjoy working than needing the additional income, wealth manager Towry’s Keeping busy in retirement survey indicated.

The research – conducted in February among 501 UK adults with a personal income of £40,000 plus – also found 40% of respondents intend to carry out voluntary activities during their retirement, predominantly to help their community or fill some time.

Head of retirement planning Andy James said: “This survey has shown that many who have planned well for their retirement are keen to continue playing some part in the working world, be this in a paid or voluntary role.”

Certified financial planner at Close Brothers Asset Management Richard Watkins pointed out working in later life should be a “choice rather than a financial necessity”.

“People place the most value on security, quality of lifestyle, comfort and stability in the later years, and appropriate, tailor-made financial advice will provide the financial flexibility to support these,” he said.

 

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