Now record number are shunning retirement

PENSIONERS are scorning retirement and choosing to stay in work in record numbers, a survey suggests – but employers, advertisers and society have not caught up.

More than half those polled have begun a business and 75 per cent say they make a profit.

Two-thirds regard work beyond state pension age as an excellent way of keeping an active mind.

Just over three-quarters want to work part-time before retiring completely and nine out of 10 have changed their working patterns, with two out of three saying the change of pace has boosted their wellbeing and given them a better work/life balance.

Last night Andrew Tully, of pension specialists Retirement Advantage, said: “Lots of over-50s enjoy their jobs. It’s important that businesses recognise the value of older employees’ expertise and experience and support them to stay on.”

One in three people takes the plunge as a volunteer to give back something for the benefit of his or her community.

Critical

Lisa Harris, of Saga, which polled almost 10,000 over-50s, said: “For many people retirement is a concept they do not want to entertain at all.

“Even if they do eventually choose to give up work, they want to continue to contribute and keep doing the things they enjoy. They do not want to put their feet up!”

The Office for National Statistics says now, for the first time, there are more than 10 million people aged over 50 in employment – the equivalent of the population of Sweden.

Middle-aged and older workers now make up nearly a third (31 per cent) of the British workforce – a total of 10,050,000 and up from 21 per cent in the early 1990s.

Dr Anna Dixon, of the Centre for Ageing Better, said: “Enabling more older workers to remain is critical to economic growth. Despite this, around a million older people are workless involuntarily.”