Prudential reports that the main motivation for 68% of the retirees who want to stay in the workforce past 65 is a desire to remain physically healthy and mentally active, while 39% do not like the idea of retiring and just staying at home. Despite wanting to stay in work, only 13% would choose to continue to work full-time with their current employer. Rather 49% of them would prefer to work part-time, either with their current employer or in a new role, in order to strike a better work life balance.
Vince Smith-Hughes, retirement expert at Prudential, said:
Gradual retirement is an increasing trend among pensioners, whether this means remaining in the same job on a flexible basis or even setting up their own business! Those retiring at 65 will face an average of nineteen years in retirement which makes the financial and social benefits of working for longer an even bigger draw for a new generation of industrious retirees.”Source: Prudential Assurance Co. Press Release (May 2, 2012)