Pensions - Articles - Work, Work, Work for today's pensioners


Commenting on the Economic labour market status of individuals aged 50 and over, Fiona Tait, Pensions Specialist at Royal London, said:

 “More people working at older ages is likely to become a feature of the 21st century as we continue to live longer and healthier lives. A man reaching age 65 in 2015 has a 17% chance of living to age 100 which would mean spending over 30 years in retirement.

 “Many people in their 60s, and even 70s do not see themselves as too old to work but want to keep using their skills or wish to continue to have the social interaction of the workplace.

 “Saving in a pension gives people choice over how and when they draw their income, unrestricted by their State Pension Age. If they choose to work, they have the flexibility to choose how they work, whether remaining with their current employment, or taking on a new challenge, possibly in part-time work or self-employment. For those who don't save, working longer is likely to be the less pleasant reality, as they are forced to stay in employment, whether they want to or not.”
  

Back to Index


Similar News to this Story

Wish list for the occupational pensions industry in 2025
As one year closes and another begins, it's an opportune moment to set our sights on the future. The UK occupational pensions industry faces nume
PSIG announces outcome of Consultation
The Pensions Scams Industry Group (PSIG), which was established in 2014 to help protect pension scheme members from scams, today announced the feedbac
Transfer values fell to a 12 month low during November
XPS Group’s Transfer Value Index reached a 12-month low, dropping to £151,000 during November 2024 before then recovering to its previous month-end po

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.