What you should know about the growth of gradual retirement

For today’s over-50s, the reasons to stay in work later in life are beyond earning and income, and more about the increasing evidence working is good, not just for your wealth but your health

For today’s over-50s, the reasons to stay in work later in life are beyond earning and income, and more about the increasing evidence working is good, not just for your wealth but your health.

Most people see transitioning into retirement as having the best of both worlds: benefit mentally and socially from work, while continuing to receive an income and enjoying more leisure time.

Work is fulfilling for a variety of reasons, and is a big part of a person’s identity, which makes stepping away from it a more difficult decision. 

Our research shows workers over 50 agree working provides much more than just financial security. It gives us a sense of purpose and self-esteem, as well as keeping our brains nimble and offering social interaction. These are all important, and the key reasons people want to blend work and retirement before stopping altogether.

Steven Cameron is pensions director at Aegon

For today’s over-50s, the reasons to stay in work later in life are beyond earning and income, and more about the increasing evidence working is good, not just for your wealth but your health.

Most people see transitioning into retirement as having the best of both worlds: benefit mentally and socially from work, while continuing to receive an income and enjoying more leisure time.

Work is fulfilling for a variety of reasons, and is a big part of a person’s identity, which makes stepping away from it a more difficult decision. 

Our research shows workers over 50 agree working provides much more than just financial security. It gives us a sense of purpose and self-esteem, as well as keeping our brains nimble and offering social interaction. These are all important, and the key reasons people want to blend work and retirement before stopping altogether.

Steven Cameron is pensions director at Aegon

Source: Aegon/Opium, based on responses from 1007 UK workers aged 50+ earning £20k+ between November and December 2018

Source: Aegon/Opium, based on responses from 1007 UK workers aged 50+ earning £20k+ between November and December 2018

Source: Aegon/Opium, based on responses from 1007 UK workers aged 50+ earning £20k+ between November and December 2018

Source: Aegon/Opium, based on responses from 1007 UK workers aged 50+ earning £20k+ between November and December 2018

Source: Aegon/Opium, based on responses from 1007 UK workers aged 50+ earning £20k+ between November and December 2018

Reasons for transitioning into retirement

Source: Aegon

Reasons for transitioning into retirement

Source: Aegon

Reasons for transitioning into retirement

Source: Aegon

 

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