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Old Age Has Been Delayed Indefinitely
By Donia O'Loughlin, FTAdviser
October 18, 2010
United Kingdom
Britain
’s ageing population are healthier and more energetic than any previous
generation, according to Friends Provident’s ageing and retirement
report.
In the fourth
chapter of the Visions of Britain 2020 series, 51 per cent of respondents
said they wanted to continue working after reach the retirement age as a
way of staying active.
Friends Provident
claimed this ageing population is creating a demand within the British
workforce for alternative ways to fund retirement.
Some 47 per cent
of respondents feared they will get bored when they stop working and 43
per cent stated they enjoyed the social contact that came from being in a
working environment.
Trevor Matthews,
chief executive at Friends Provident Holding UK, said whilst it is
important to recognize that an ageing society creates a number of
challenges, there are also many positive factors to consider.
He said:
"The definition of old or retired has evolved and by 2020, the face
of retirement will look completely different from the one that we have
become familiar with in recent years.
"People are
living longer and this new breed of energetic and healthy individuals want
to remain involved and not become economically inactive.
"These
individuals will not only continue to contribute to their pensions with
their continued earnings, but those who will position their activity
towards volunteering will make momentous contributions to their local
communities."
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