Women likelier to work beyond retirement age

The annual Working Late Index from retirement specialist LV= has reported that the number of over 50s expecting to work beyond the state retirement age has risen from 4.5m in 2010 to 6.5m.

On average, those expecting to work past the retirement age think they will do so for 6.2 years.

There is a significant gender divide, with 4.1m women compared to just 2.4m men planning on working past the retirement age.

In addition, men who plan on doing so intend to work for longer beyond the state retirement age than their female counterparts.

LV= Head of Pensions Ray Chinn said that whilst many feel too young to retire and wish to continue working the research indicates that the majority who will work beyond the retirement age will be forced to do so by financial necessity.

Chinn went on to say that regardless of how close people are to retirement it is essential that saving remains a priority.

Tags: , , ,

Category: Insurance News, LV= News