Post-retirement intentions show pension doubts are on increase

Nearly seven in 10 UK employees are considering working after their official retirement for financial reasons or for their own personal interest.

A survey of 1,000 UK workers aged 18-34 and 55-64, by insurer Liverpool Victoria, reveals that 71% would consider working beyond the statutory retirement age.

More than half (53%) of those in the 54- to 64-year-old category said they would carry on working beyond their retirement age to supplement their pension and provide further income. The remainder said they would continue working for their own personal enjoyment.

Almost all (98%) of people between the ages of 18 to 34 also said they would consider working after retirement for financial reasons.

Nigel Snell, head of external affairs at Liverpool Victoria, said reports of a pensions crisis were finally having an effect.

“The message about the need for adequate pension provision is getting through. Workers of all ages are thinking about how they can ensure a better quality of life post-retirement,” he said.

Employees in the East Midlands were found to be the most likely to work after retirement age, with 82% considering it. Londoners were found to be the least likely to return to work, with just 35% intending to carry on working.

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