Miércoles 11 de Julio de 2007, Ip nº 198

Employees expect to be working past 65
Por Laura Howard

Workers are no longer counting down the days until they reach the state pension retirement age of 65, according to a report out today from Birmingham Midshires.
In fact, more than a third of the UK workforce aged over 55 expects to remain in employment up to and beyond this golden milestone.

But it is companionship and intellectual stimulation that are the primary motivations for an extended work life, says the survey, not just financial demands.

It found that 40 per cent of over 55s would remain at work to benefit from social interaction, compared to only 38 per cent who would stay at their desks to earn money to pay off debts including mortgages.
Just under a quarter of respondents (23 per cent) said they intended to continue working to support their family, while a similar proportion (22%) will continue to go to the office for fear of becoming bored.

Londoners are the most keen to extend their working life past the age of 65 according to the survey, with 45 per cent, rather than the national average of 40 per cent, stating this as their intention.

The desire to work longer could also just be relative to the trend of living longer.

According to figures from the Office for National Statistics, men aged 65 in 2005 can expect to live another 16.6 years (up from a further 13.2 years 20 years ago), while women can expect to live another 19.4 years (up from 17.2 years 20 years ago).

Director of savings operations for Birmingham Midshires, Jason Robinson, commented on the findings: "For many people work is an important social lifeline and consequently we are seeing a significant number of older people planning to work beyond state pension age - either in a paid capacity or in the voluntary sector."

Mr Robinson added that, as a generation of savers, the over 55s are also more likely to have the luxury of choice.


  07/06/2007. The Guardian.