No I’m not talking about the latest beauty product that professes to revitalise your skin – because you’re worth it. Nor am I talking Botox, face lifts, nips or tucks.
I’m actually talking about the vexed issue of the default retirement age and the thorny issue of working beyond 65.
A study published by the University of London on 12 June reveals interesting results including almost nine in ten workers in their early fifties believe they will have to work past their state pension age so they can have enough to live on when they retire. The survey of 10,000 people tracked throughout their lives revealed that, when asked about their retirement prospects, 70% fear not having enough to live on.
89% of those surveyed are prepared to work past the state pension age to improve their chances of a comfortable retirement.
25% strongly agreed that they would continue to do some paid work when reaching their retirement age if it meant a better standard of living, while another 47& concurred. The concerns are not limited to those with modest incomes, according to the research. More than 60% in higher professional or managerial jobs, or with a net household weekly income of more than £800, admitted to being worried about having enough to live on in retirement.
Matthew Brown of the Centre for Longitudinal Studies, the author of the study, said that paying into a pension no longer appeared to ease people’s financial worries.
Personally, I think the only thing that’s served its useful time is the default retirement age – don’t you?