'New age' retirees working longer

13 July 2006
Nearly half of all Britons who are approaching retirement age, equivalent to around 2.6 million people, will continue to work past the traditional threshold of 65, a new study by Prudential has found.

A third of those surveyed said they planned to engage in some form of voluntary work and as many as 1.4 million respondents said that they had no idea when, if ever, they would be ready to stop working.

Only six per cent of Britons who are currently drawing a pension said they had not retired by the 'traditional' age of 65, showing the changing attitudes towards retirement from the older generation.

"Until very recently, for many people, 'retirement' meant stopping work at the state pension age after 40-or-so years of labour," said Ali Crossley, In Retirement director of Prudential UK.

"However, for those approaching retirement - people in their 50s and early 60s - it isn't quite so simple. Many are choosing to carry on working past the current state pension age, either because they want to or because they need to."

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