Retirement may be the goal we all work towards throughout our working lives – but more than one in five retired people have subsequently ‘un-retired’ and gone back to some form of work, according to new research issued today.
Over one in five retired people return to work
Retirement may be the goal we all work towards throughout our working lives – but more than one in five retired people have subsequently ‘un-retired’ and gone back to some form of work, according to new research issued today.
The ‘Un-retireds’ - people who retire and then later go back to full-time, part-time, voluntary or seasonal work - are identified in the new study by Norwich Union.
More than one in five (22 per cent) of retired people over 50 have gone back to some form of employment, with the figure as high as a third (34 per cent) in the 65-74 age bracket. Of those who haven’t gone back to work, 22 per cent are considering doing so.
Reasons for returning to employment include a desire for human interaction, keeping active and giving something back into the community – although only four per cent return to work because they need the money.
And the research suggests that most retired people have little difficulty finding employment– well over half (59 per cent) who have gone back to work say they had ‘no problems’.
Other findings of the Norwich Union survey include:
- 12 per cent said they became ‘un-retired’ because they wanted to keep active
- 11 per cent wanted to give something back to society, 11 per cent missed daily interaction and a similar number were bored
- Women are three times more likely to miss the feeling of daily interaction than men
Ian Beggs, of Norwich Union, said: “Some people find ending their working life a positive experience, particularly if they are emotionally or financially ready for it, or if they have a choice. But for others, the impact of giving up work for good is a real blow, especially if they have been forced into retirement or are financially less able.
“The feelings generated from retirement range from freedom, release and ‘the great escape’, to a sense of loss, no longer feeling like a contributor, and in some cases a loss of self- esteem.
“Of those people who have chosen to go back to some form of work, most have done so out of choice rather than necessity. It will be interesting to see whether people retiring 30 years from now find themselves in the same position.”
When it comes to the type of jobs that the un-retired prefer, 38 per cent of women, and 29 per cent of men, work part- time.
Over a quarter (27 per cent) have done voluntary work, although it is three times more likely to be women.
Around one in five (18 per cent) of the un-retireds found work through their previous employer, although twice as many women (24 per cent) did this than men (10 per cent). And while 13 per cent of the un-retireds used the job centre or local newspaper to review advertised jobs, 34 per cent of people actually found work through friends or relatives.
Nearly two thirds (64 per cent) of over-50s are against a compulsory retirement age - while almost a third (30 per cent) are firmly in favour. Men (37 per cent) feel more strongly about having a compulsory retirement age than women (25 per cent).
Media contacts:
Jo Misson or Liz Fay at QBO on 020 7379 0304 or Ian Beggs at the Norwich Union Life press office on 08703 66 68 71/07790 487533
Weekend Contacts:
Jo Carr: 07776 137141
Jo Misson: 07887 777731
Liz Fay: 07885 965966
Full summary of findings and case studies available on request.
- Research was carried out by Taylor Nelson Sofres, who surveyed 777 retired people nationwide, aged 50 and over, during October 2002.
- In October this year, the Government announced it is reviewing the standard retirement age of 65 for men and 60 for women. Secretary of State for Work & Pensions Andrew Smith told Labour's annual party conference in Blackpool that the Government wanted to ‘move away’ from the idea of a fixed age at which people must stop working. Source: BBC Online (http://news.bbc.co.uk/1/hi/uk_politics/2290161.stm)
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