Post-pension work to become the norm

The days of pensioners leaving the world of work on their 60th or 65th birthday and retiring into a golden sunset seem a thing of the past. According to new research by Post Office Money, fully 20% of people at retirement age want to make an immediate return to employment.

Lack of cash, boredom, a renewed sense of purpose and social status have all been cited as factors in the burgeoning so-called “boomerang” workforce.

The very definition of retirement has changed. From simply dropping out of the workforce, many view it as a change in lifestyle – finding a role which suits comfortably someone aged over-65.

It is, perhaps, no bad thing.

The state pension age has already risen for women and will do so again, for everyone, by 2020.

Health and social care costs are rising and the long-term effect on the NHS of its current and impending woes remains to be seen.

The increasing reliance on “granny day care” among families is a further drain on pensions.

It means many people will not be able to give up work, even if they want to.

The notion of remaining part of the workforce beyond the traditional retirement age may seem unpalatable to some, but it is increasingly likely it will become the norm whether we like it or not.