Grey matters
One quarter of the UK’s retirees ‘unretire’ back into the workforce, according to researchers from the University of Manchester and King’s College London.
Since the year 2000, the proportion of over-65s in work has doubled to around 10%. The share of 50-64 year-olds in employment has risen to a record 71%.
The survey did not ask participants why they returned to work, but surveys from North America suggest this decision can hinge on a number of variables, including wanting to improve finances, missing social contact and not enjoying retirement.
The research initially tried to find evidence that the financially vulnerable were more likely to return to work. However the opposite was proved true, with the majority of “retirement reversals” committed by the wealthier and the better educated.
Senior investigator Karen Glaser, warned that a continued rise in people choosing to “unretire” could have a negative impact on our future households, and lead to “future disparities in later life income”.
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