A report by financial services provider Prudential has proven the trend that older workers are choosing to stay in work rather than retire at sixty five. The reasons for this are multiple but largely affected by the fact that people are living longer and can expect to spend an average of nineteen years in retirement. These extra years would be greatly helped by a better pension income gained from a few more years in employment.

Of those that do decide to carry on working, a large percentage of nearly half (49%) decide to continue working but on a part-time basis. This allows them to enjoy an improved work life balance. The desire to continue working is not only impacted by the cost benefits but by an attempt also to keep their brains in check by remaining active in both mind and body. Some say that although they would like to carry on working that they might not do so in their current roles, be it full or part time. The report showed that only thirteen per cent would continue to work in their current role full time. Some people even wanted to start their own businesses.

More than half of those interviewed said that they enjoyed working. Vince Smith-Hughes, retirement expert at Prudential, said: "There is a new retirement reality taking shape across the UK, with thousands of people actively choosing to work past the traditional retirement age." ONS figures are showing that the average retirement age for both men and women has risen over the past few years. There is an increasing trend towards a gradual retirement. People are less likely to go from working full time to not working at all and so a phased retirement is better for most. To aid in this trend a lot of workers are looking towards flexible working as well as part time working.

Unfortunately, for some the reasons to stay at work are not so pleasant. The fact that life expectancy has increased so much over the last decades means many quite simply cannot afford to retire. For this reason the Government is desperately trying to ensure that people think sooner rather than later about their need to save for retirement. Auto-enrolment into a company pension scheme aims to help with this. Figures show that more than half of those who have already retired would return to work at least on a part-time basis.

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