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.
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