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One in Eight Men Over 65 Can't Afford to Retire
22/02/2011
12% of men in the UK over the age of 65 are still working due to the pensions crisis that has forced them to reconsider their retirement plans.
60% of men still working at this age have a part-time job to supplement their income.
Experts have explained this rise in employment numbers (which has almost doubled in one year) as a result of individuals having no private pension, few savings and debt caused by elderly parents and adult children.
The number of women who are still working over the age of 65 in the UK has also risen to 6.4%. Typically women now retire at the age of 62, whereas 6 years ago this figure was 61years and 2 months.
Homeowners aged over 55 years who are concerned about having to delay their retirement and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.uk for equity release advice.
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