Group sees "semi-retirement" trend

12/01/2009

Around nine per cent of Brits who've already retired are still working - even though they're drawing a pension, too.

Heartwood Wealth Management conducted a study into these older employees, finding that one in five have no fixed plans to ever leave the workforce.

Meanwhile, one in ten of the group only plan to stop in another ten years or so - while half will only officially retire when they feel they've saved enough money to live on.

Speaking to the Press Association, Simon Lough, chief executive of Heartwood, said: "Semi-retirement is becoming the new norm for baby boomers."

He added: "And with the credit crisis, falling property prices and shrinking pension pots, increasing numbers of people will have to put full retirement on hold for longer as they won't be able to afford to stop working."

Heartwood conducted its research among people living in the UK and aged over 55.

The "baby boom" generation includes those born from the late 1940s to the early 1960s.

Tags; Income Worries and Debt, Retirement Money Problems,

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