Over one-in-five retired people return to work

According to a new survey, more people than ever are coming out of retirement to re-enter the workforce.

New research carried out by the Norwich Union has revealed that as many 22% of retired people over 50 have gone back to some form of employment, with the figure as high as a third in the 65 to 74 age bracket.

The new ‘Un-retired’ workforce have returned for reasons including a desire for human interaction, keeping active and giving something back to the community – although only 4% return to work because they need the money.

The research suggests that most retired people have little difficulty in finding employment – well over half (59%) who have gone back to work say they had "no problems".

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 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% of women, and 29% of men work part-time.

Around one in five of the un-retired found work through their previous employer, although twice as many women did this than men. And while 13% of the un-retireds used the job centre or local newspaper to review advertised jobs, 34% of people actually found work through friends or relatives.

In October this year, the British government announced that it is reviewing the standard retirement age of 65 for men and 60 for women. The Secretary of State for work and 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.

(AMcE)