High-flyers don’t want to retire

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More than one in 20 retired men have taken on new roles, according to research on “unretirement” by Ricky Kanabar of York University.

His seven-year study of people aged 50 to 75 found that more men are choosing to return to work after ending their careers, with many doing so to ease financial pressures. The trend is particularly marked among career high-fliers, with an average pre-retirement salary of £50,000. Those returning to work in retirement typically plan their finances at least a year ahead.

“Changes to UK retirement legislation in 2011 mean employers can no longer lay-off individuals because they have reached state retirement age, moreover since in the UK individuals can choose to claim their state pension and also continue to work,” said Kanabar.

“This will affect how individuals plan their retirement, if they plan to retire at all.”