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Many plan on working past state pension age

Jun 21, 2018

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By Kate Brown

Many plan on working past state pension age - Knowles Warwick

According to new research by Prudential, half of the people due to retire in 2018 are considering working past the state pension age.

With more than a quarter of professionals planning on turning to part time work after reaching the state pension age, a growing trend has been revealed. Findings also revealed that 14% stated they would continue working full time past the state pension age, whilst 20% stated they would earn a living from starting a new business or from a hobby.

A retirement income expert, Stan Russell, stated: “The shift to ‘pretirement’ in recent years shows that many people reaching state pension aren’t ready to stop working”. The research from Prudential revealed that professional’s decisions to work past the state pension age isn’t always financial. Many reported that it was to keep their mind and body active or because they simply enjoy working.

 

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