A recent survey has uncovered that over one in ten people who retired in Britain have since returned to the workplace, while another 4% are now planning to start working again in the future.
Rising inflation and a sharp spike in energy bills have all been listed as the main motivators behind retirees going back to gainful employment. While 26% commented their choice was driven by a desire for a new challenge, a total of 29% of respondents cited current the cost of living as their reason to return.
Experts in retirement planning in Chester, Southampton and other cities are often consulted by those still working, but also retires already enjoying their free time. Wealth managers are specialists in retirement planning and help their clients adapt their plans to ensure they remain adequate to support the lifestyle they seek in later life. Often, people do not wish to return to work once they’ve officially retired; this is not always achievable, however.
The new research findings follow a previous study which indicated that 24% of UK citizens have needed to delay their plans for retirement, with approximately 670,000 people in the age group 50-55 resetting their plans to end work by up to five years and, in some instances, even more.
Around one in five respondents stated that they now expected to work beyond the age of 70, with a further 7% admitting they anticipated that they would never be able to retire. The present cost-of-living crisis was once more cited as the key reason for this circumstance.
