Planning to work past retirement?
The default retirement age ended in 2011, so that you don’t have to stop working unless you want to. A survey in late 2012 found that 6.5 million over-50s are planning to work past state retirement age – that’s an increase of 43 per cent since 2010.
More than a third – 36 per cent – said they would stay in work because they enjoy it. And they may be making a sensible choice; there are studies that prove there are health benefits to working longer.
According to the Institute of Economic Affairs and the Age Endeavour Fellowship, doubling the number of years spent in retirement increases the probability of
a range of potential problems, including suffering from clinical depression, having physical conditions diagnosed, and taking a drug for such ailments. Further to this, a study by INSERM, the French government’s health research agency, found that for every additional year of work the risk of getting dementia is reduced by 3.2 per cent.
over-50s are planning to work past state retirement age
Over-50s who would stay in work because they enjoy it
Credit: Research by LV=, released November 2012.