Retirement specialist LV=, have conducted a survey which shows that many people now choose to phase their retirement and work past the age of retirement, cutting back on working hours gradually.
Now, only one in three adults of pension age in the UK no longer work. The survey reveals that those over the age of 60 who are in employment in the UK work an average of 24 hours, having gradually reduced their working hours over the years.
Furthermore, of those over 60 still working, 35% wish to phase their retirement by working part time, taking on consultancy work or doing voluntary work. The increase in pensioners working part-time can be attributed to a number of things.
Almost half of those continuing to work cite financial reasons, saying they remain in the workplace to boost their retirement income. However, the main reason given was that those surveyed enjoy working – the reason given by 52%.
Furthermore 42% believe that they are too young to stop working, and will not be held back by their age when the feel much younger.
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