Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • February 2015
02

More than half of UK adults 'will consider' working past pension age - survey

Open-access content Friday 20th February 2015

More than half (51%) of UK adults will consider working past state pension age, according to research.

2

A survey of 7,687 non-retired UK adults aged over 45 (including 1,012 who are planning to retire in 2015), conducted by Prudential, reported that 51% of adults will consider working past pension age to help improve their financial position.

Prudential said of those due to retire this year, which the firm described as "class of 2015", over a fifth (21%) said they were not ready to give up work. Another 24% said they had chosen to delay their retirement plans.

Of those considering staying in work, 57% said they wanted to "keep mentally and physically fit". Another 39% wanted to work past retirement age because "they simply enjoy working" while 35% said they would miss interacting with work colleagues. A third (33%) did not like the idea of "being at home all the time" and 23% confessed they would miss having a daily routine.

Stan Russell, senior business development manager at Prudential, said: "The old image of everyone giving up work aged 60 or 65 and becoming a pensioner is a thing of the past. People are seeing the opportunity to stay at work full-time or in a period of 'pre-tirement' [a term used to describe planning for and moving towards retirement] as an attractive one - whether it's to boost their pension pots or just to stay fit, healthy and stimulated."

Of those planning to retire, Prudential said a third (30%) would enrol on a course, while another third (29%) planned to undertake voluntary work. Over a quarter (26%) of respondents said they would join a club or an activity group.

Russell said: "People's attitudes towards retirement are increasingly optimistic, especially with the new freedom on accessing pension savings that will come into effect this April. The 'class of 2015' are approaching their later years determined to improve their health, acquire new skills and enjoy themselves."

This article appeared in our February 2015 issue of The Actuary.
Click here to view this issue
Filed in:
02

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Make the switch from Pensions > Life Insurance

Manchester
Excellent Salary + Bonus (study support if required)
Reference
121040

Senior Reinsurance Pricing Actuary

City of London
Up to £130,000 + Benefits + Bonus
Reference
121063

Interim - Reporting Actuary - Inside IR35 - Nearly/Newly Qualified

London
Discussed Upon Application
Reference
121059
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2021 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited, Level 5, 78 Chamber Street, London, E1 8BL. Tel: 020 7880 6200