New data has uncovered that the migration of older employees leaving the workplace sparked by COVID-19, dubbed the “great resignation”, may be a trend set to reverse because of Britain’s current cost-of-living crisis.
According to recent figures recorded by the Office for National Statistics (ONS), in recent months, UK citizens over 50 who have left their roles since the pandemic are increasingly considering returning to work. While many have opted for an early retirement during the outbreak, due to a need for more money in the present financial crisis, many are pondering reversing their decision.
UK workers of all ages often seek out help from experts in retirement planning in Shropshire, Hampshire and other counties. Wealth managers, for example, assist their clients by drawing up plans that prepare them financially for when they are no longer working, but also continue to help them plan during their retirement to ensure they have adequate income to cover their needs.
The recent survey, which was carried out in August, discovered that a massive 72 per cent of people now in their 50s consider returning to work an option, compared to 58 per cent who voiced such an opinion back in February.
Additionally, the research revealed that approximately two thirds of the 72 percent stated that their return to employment would be for financial reasons. Only 38 per cent of people in the age range of 50 to 54 commented that they were confident that the retirement provisions in their possession would answer their needs.
