Older Britons are frequently ‘unretiring’ and re-entering the workforce after leaving it, new research suggests.
A quarter do so within 15 years of retiring, as employment amongst the over-65s has doubled to 10 per cent since 2000.
University of Manchester and King’s College London researchers found that men are more likely to ‘unretire’ than women, and that healthier individuals were also more likely to re-enter the workforce, according to research quoted by the Financial Times.
While those still paying off their mortgage were 50 per cent more likely to unretire than outright homeowners, there was no clear link between financial difficulties and older people being forced back in to work.
Researchers have expressed concerns that higher-educated individuals, who find it easier to re-enter the workforce, will begin to see a significant divergence from other retirees in later life income.
The research finds: “The evidence that people with more human capital have a higher likelihood of unretiring, rather than those in financial difficulties, suggests that hopes that ‘retirement reversals’ might be a strategy which enables older people in poorer financial situations to raise their incomes are possibly misplaced.”