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28/11/2003
Women want to retire later, claims report
New research published today shows that a third of women in the workforce aged 50 and over plan to retire after State Pension Age (SPA).
Almost a third of the workforce, both men and women, aged 50-69 want to retire gradually by reducing their working hours prior to fully retiring, the survey found. Currently, the State Pension Age is 60 for women and 65 for men – but between 2010 and 2020, the State Pension Age for women will rise progressively from 60 to 65.
The findings were published in the Department for Work and Pensions' research report 200 'Factors Affecting the Labour Market Participation of Older People', which asked 2,800 people about a range of issues including what influenced their decisions on when and how they would wish to retire.
The findings suggested that those in self-employment find it easier to retire gradually, with 65% saying that was their intention compared to 25% of employees.
Welcoming the report, Minister of State for Pensions, Malcolm Wicks, said: "This report confirms that many of those nearing, or at, State Pension Age do not necessarily want to stop working completely, but instead want to choose how and when they stop working.
"We must respond to this demand and help people to be able to make choices that ensure they can enjoy their retirement the way they want."
The research is based on a sample survey of 2,808 people aged 50 to 69. The sample was drawn from the Department's Family Resources Survey (FRS) with a boost sample of people in receipt of Incapacity Benefit and/or Income Support, selected from benefit records to ensure adequate coverage of this group. Survey respondents were interviewed face to face.
(gmcg)
Almost a third of the workforce, both men and women, aged 50-69 want to retire gradually by reducing their working hours prior to fully retiring, the survey found. Currently, the State Pension Age is 60 for women and 65 for men – but between 2010 and 2020, the State Pension Age for women will rise progressively from 60 to 65.
The findings were published in the Department for Work and Pensions' research report 200 'Factors Affecting the Labour Market Participation of Older People', which asked 2,800 people about a range of issues including what influenced their decisions on when and how they would wish to retire.
The findings suggested that those in self-employment find it easier to retire gradually, with 65% saying that was their intention compared to 25% of employees.
Welcoming the report, Minister of State for Pensions, Malcolm Wicks, said: "This report confirms that many of those nearing, or at, State Pension Age do not necessarily want to stop working completely, but instead want to choose how and when they stop working.
"We must respond to this demand and help people to be able to make choices that ensure they can enjoy their retirement the way they want."
The research is based on a sample survey of 2,808 people aged 50 to 69. The sample was drawn from the Department's Family Resources Survey (FRS) with a boost sample of people in receipt of Incapacity Benefit and/or Income Support, selected from benefit records to ensure adequate coverage of this group. Survey respondents were interviewed face to face.
(gmcg)
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30 November 2005
Mixed reaction to pensions report
Today's Pensions Commission report has been hailed by the government and opposition leaders but fiercely criticised by both businesses and trade unions. The review proposed a gradual rise in the state pension age to 68, as well as the introduction of a national pension saving scheme and a rise in payments linked to earnings, rather than prices.
Mixed reaction to pensions report
Today's Pensions Commission report has been hailed by the government and opposition leaders but fiercely criticised by both businesses and trade unions. The review proposed a gradual rise in the state pension age to 68, as well as the introduction of a national pension saving scheme and a rise in payments linked to earnings, rather than prices.
06 April 2009
Pensioners Benefit From 5% Increase In State Pension
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Pensioners Benefit From 5% Increase In State Pension
The weekly full basic State Pension will rise by five per cent from £90.70 to £95.25 from today - almost an extra £5 a week. Around 12 million pensioners will benefit from this increase in their State Pension, the biggest percentage increase since 2001.
17 November 2005
State pension age could rise
Britain’s workers could face an increased state pension, but they may have to work longer before they can claim it.
State pension age could rise
Britain’s workers could face an increased state pension, but they may have to work longer before they can claim it.
22 September 2010
UK & Ireland Ranked Worst Places To Live
According to a new study, the UK and Ireland are the worst places to live in Europe. They hit the bottom of the uSwitch.com list due to lower than average government spending on health and education, high living costs, late retirement and short holidays.
UK & Ireland Ranked Worst Places To Live
According to a new study, the UK and Ireland are the worst places to live in Europe. They hit the bottom of the uSwitch.com list due to lower than average government spending on health and education, high living costs, late retirement and short holidays.
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Northern Ireland WeatherThis Evening and Tonight:It will be cloudy. Also mainly dry at first this evening but then occasional outbreaks of rain developing overnight. Light southwest winds, and staying mild. Minimum temperature 9 °C.
