Friends Provident’s research found Britain’s ageing population is healthier and more energetic than any previous generation. Over half (51 %) of respondents stated they wish to continue working after they reach retirement age as a way of staying active. This dynamic ageing population is creating a demand within the British workforce for alternative ways to fund retirement.
And 47% of respondents fear that they will get bored when they stop working with 43% stating that they enjoy the social contact that comes from being in a working environment.
In 2020, older Britons will be having a colossal impact on local communities through volunteering and are already doing so with 51% of volunteers being aged 60 years or over (British Household Panel Survey/The Future Foundation). By extending their working lives or volunteering, the survey respondents felt that they were making contribution to society whilst also remaining engaged.
Trevor Matthews, CEO Friends Provident Holdings (UK), said: "It is important to recognise that although our ageing society creates a number of challenges, there are also many positive factors to consider. The definition of old or retired has evolved and, by 2020, the face of retirement will look completely different from the one that we have become familiar with in recent years. People are living longer and this new breed of energetic and healthy individuals want to remain involved and not become economically inactive. These individuals will not only continue to contribute to their pensions with their continued earnings, but those who will position their activity towards volunteering will make momentous contributions to their local communities."
Britiain's older workers are healthier and more energetic than any previous generation
Old age has been delayed indefinitely, with a growing number of ageing workers viewing retirement pessimistically, according to a new report.
