Martin Palmer, head of corporate benefits marketing at Friends Life, said:Source: Friends Life Ltd. News Release (January 9, 2012)
"We're expecting the traditional image of the pensioner with slippers and rocking chair to change completely.
"Many will not have saved adequately for a secure retirement and, with years of fiscal austerity taking their toll, by 2020 many people in their seventies simply will not be able to afford to give up working."
Monday, January 09, 2012
United Kingdom: Survey Finds Pension Crisis Will Force Older Workers To Work or Earn into Their 70's
According to researchers for Friends Life Limited, a generation of "Wearies"--Working, Entrepreneurial and Active Retirees--"could be forces to continue working into their seventies and beyond due to hardships caused by the looming pensions crisis." Specifically, the study--"Pensions: Crisis and Reforms"--finds that 51% of Britons who are already retired said they would be prepared to do part-time work to boost their pensions, a figure which rises to 75% among those who are yet to retire.