More people working beyond state pension age

clock

Growing numbers of people are postponing their retirement in the recession and working past state retirement age, according to Watson Wyatt.

Analysis of the latest Office for National Statistics (ONS) jobs figures suggests the over 65s are one of the few age groups where employment is still growing. The ONS figures show 1.4m aged 65 and over are still working, up from 1.2m a year ago. John Ball, head of defined benefit consulting at Watson Wyatt, says: "Ironically, the recession may be keeping some older people in work for longer - they are postponing retirement because their savings and properties have lost value." The bulk of working pensioners are aged 67 and under, and this group is growing rapidly due to high birth...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Smoothed funds set to be a 'bigger asset class for the advice market'

Smoothed funds set to be a 'bigger asset class for the advice market'

‘An attractive low-risk solution for retirees’

Isabel Baxter
clock 25 November 2024 • 3 min read
Advisers no longer see inflation as a major concern

Advisers no longer see inflation as a major concern

Funds offering a level of inflation protection were the last research, Square Mile finds

Isabel Baxter
clock 22 October 2024 • 4 min read
Advisers turn to smoothed funds to help manage volatility threat

Advisers turn to smoothed funds to help manage volatility threat

Decreasing exposure to equities also a popular strategy

Isabel Baxter
clock 26 March 2024 • 1 min read