The share of older UK workers planning to carry on working in their retirement has nearly doubled in two years due to rising living costs and insufficient pension savings, according to a survey from Abrdn.
The investment manager’s stark findings underscore the impact of soaring energy and food prices on household budgets, which is pressuring people’s finances as inflation hits a 30-year high.
Surveying people planning to retire in 2022, Abrdn found that 66 per cent respondents proposed to continue with some form of employment beyond retiring, up from just over 50 per cent in a similar study last year and just 34 per cent in 2020.
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