17th April 2015
Retirement is no longer a time for people to wind down, with two-thirds of pensioners wanting to work.
Research by insurer Standard Life shows 66% of 65-to-74-year-olds want to work, at least part-time, in retirement.
This compares to 54% of this age group that said they would like to go travelling or on holiday and 44% who said they want to spend time with their partner or family.
The figures prove real retirement wishes are different to the retirement dreams people have at younger ages. A third of adults under the age of 44 said they would like to spend their retirement relaxing and being pampered but this falls to 15% in the aged group 65-to-74.
One in 10 of the older age group said they would like to start a business in retirement but just 3% of those aged 45-to-64 said the same.
Jamie Jenkins, pensions expert at Standard life, said: ‘The research shows that for many the dreams of retirement can significantly differ from the reality.
‘The desire to work in particular was quite surprising and is likely down to two reasons- either missing the buzz and camaraderie of the work environment, or perhaps not putting enough aside for their pension in their working life and deciding that they need more cash to play with.’
Pensions have shot to the top of the news agenda thanks to pension freedoms coming into force and Standard Life has seen a 550% increase in the number of people using its online tools to research their options.
‘One thing is for sure, the fact that pensions has recently been so high on the news has spurred many into action to start thinking about their pension – the number of people looking at our online tools is up around 550%; it’s great to see that people are realising the importance of researching all the options before making a decision regarding their retirement,’ said Jenkins.