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Two-thirds of Britons 'may work after retirement'
16/07/2008 17:15:00
More people in the UK are delaying their retirement and staying in work amid fears of debt problems and not having enough financial security in older years, research has suggested.
Nearly two-thirds of British people nearing retirement age think they will continue to work once they've passed the threshold and 31 per cent believe they will likely return to employment at some point due to financial pressures, according to a study from Zurich.
On addressing the company's recent credit crunch conference, Michael Portillo said: "The combined impact of the rising cost of living, rising inflation, fears of recession and the constant media coverage of the credit crisis, has created insecurity for a huge number of people."
However, Zurich's research also highlighted that almost three-quarters of people have never sought financial advice in planning for their retirement.
In other finance news, Scottish Widows warned that not only does everyone need to save for an "emergency fund" in case the unexpected should happen, saving for retirement will give people the chance to be able to enjoy a good lifestyle later in life.
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