Older workers enjoy the social aspects of work and don't wish to leave
Sobering statistics from a survey by Retirement Advantage shows more than one in ten (11%) of existing workers over the age of 60 don’t ever plan to retire.
The YouGov-commissioned poll revealed in-in-five respondents were worried about losing the social aspect work provided for them, and a further 22% said they would rather take unpaid voluntary work than retire altogether.
Andrew Tully, pensions and technical director, Retirement Advantage said: “The research demonstrates how the traditional idea of cliff-edge retirement being at state pension age is well and truly in the past.”
He added: “A significant minority of the over 60s are not planning to retire at all. While this might sound extreme, for many people, it’s about quality of life, staying active and engaged in society without the pressures of full-time work.”
As well as 11% of over 60s planning never to retire, the same poll finds 6% of employees over 50 do not plan to retire either.
Around half (47%) of the over 50s expect to switch to part time work as they get beyond state pension age.