Two in five people planning to retire this year would be happy to work past 65 if they were able to, according to a survey.
Prudential's Class of 2012 -which polled 1,003 pre-retirees - found 68% want to stay in work to remain healthy and mentally active. Over half (54%) say they enjoy working while 39% said they do not want to spend their days at home (39%).
Vince Smith -Hughes [pictured], retirement expert at Prudential said "Those retiring at 65 will face an average of nineteen years in retirement which makes the financial and social benefits of working for longer an even bigger draw for a new generation of industrious retirees."
However, only 13 % would choose to continue to work full-time with their current employer. Half would prefer to work part-time and one in ten say they would like to start their own business or earn money from a hobby.
The compulsory retirement age was scrapped last October, meaning employers could not automatically retire employees at 65. But a recent court decision means employers can retire older workers using a 'public interest' defence, such as the promotion of younger workers.
However, Smith- Hughes said: "the research shows only 13% of people want to stay on with their current employer. And I think [employers retiring employees] is going to be an issue for people in higher paid jobs. But with those in lower paid jobs, I suspect a lot of people will like the idea of going and doing something else."
He also said as a result of gradual-retirement, advisers will see "a real demand for lots of flexible retirement solutions. I think income drawdown plays its part, but also investment linked annuities."
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