19 February 2015

Once past 50, it used to be the case that people started thinking about how they would spend their retirement; now it seems that most are looking at ways to lengthen their working lives.

According to research by insurance company MetLife, nearly two-thirds of those over 50 would consider retraining, either to acquire new skills in order to continue in full or part-time employment (50%), or so that they could launch their own business (13%).

Just one in three (31%) told MetLife that they were expecting to retire completely from full-time work although researchers also found that this is not necessarily down to the popular belief that people "can't afford to stop working".

Nearly a quarter (23%) of over-50s said that they enjoyed working while a further 30% would miss the social interaction that work provides or (another 29%) feel that work gives them a sense of purpose.

MetLife has sponsored a report by Dr Ros Altmann, now the Government’s Business Champion for Older Workers, entitled "Flexibility in retirement: Planning for change", which examines how changes in working patterns mesh with new flexible approaches to pension provision and more creative methods of funding retirement.

This can be found at http://bit.ly/1ECvS0a.