Some 2.8m over-50s within the UK have returned to work after being beforehand retired, in line with new analysis from Authorized & Common.
Nonetheless, solely 3% plan to or are contemplating returning to full-time work, the research prompt.
Most, who haven’t beforehand returned to work after retiring, mentioned they are going to pursue both part-time or seasonal work (14%).
The analysis additionally uncovered another fascinating begins about returner employees. Greater than a 3rd (37%) discovered they wanted a higher earnings following rising dwelling prices.
Greater than three fifths (62%) mentioned they needed to remain mentally lively and a 3rd (32%) needed to return to work to offer them a way of function.
Nonetheless, returner employees face challenges: 24% mentioned they skilled tiredness, 22% misplaced out on free time whereas 17% discovered a change in working tradition led to issue.
Lorna Shah, managing director, retail retirement and chief govt of Authorized and Common Residence Finance, mentioned: “Rising dwelling prices are driving folks again to work to prime up their earnings because the stress is on to make their cash go additional.
“However as our analysis signifies, individuals are not returning to full-time roles, so they are going to possible be topping up the cash they make from work with some type of earnings from their pension pot.”
She mentioned Authorized & Common noticed gross sales of fixed-term annuities greater than double final 12 months as prospects sought the advantages of a predictable and versatile retirement earnings.
• The analysis was carried out on-line by Opinium Analysis amongst 3,000 UK adults aged 50+ between 4-26 January. Based on ONS statistics there are greater than 25,707,465 UK adults aged 50+. 11% of UK adults (319) over 50 have returned to work after beforehand having been retired. 319/3000 * 25,707,465 (UK grownup inhabitants) = 2,733,560 (shorthand 2.7m)
