Thank you if you participated in my survey about retirement – I received some really valuable insights.

I asked how you view retirement, and what you want out of it - the results were interesting!¹ 

Of those who have not retired yet,


plan to retire before they turn 65

Of those who have already retired,


have stopped work completely


of people who have officially retired are still working on a part-time or casual basis


of people who had stopped working entirely confessed they were a bit bored

So - for those who have not retired yet, nearly half plan to retire before they turn 65. Another 17% plan to retire fully before the age of 70.

Many of you will do exactly as planned.

But, before you visualise yourself relaxing, perhaps making plans to fill your mornings with leisurely coffee dates and some brand-new hobbies, consider what happened to one of my colleagues’ parents.

His lovely folks set out to follow a traditional retirement plan. They couldn’t wait to hit 65, collect their pensions, and enjoy the good life.

clock-63Except they discovered shortly after retirement they didn’t know what to do with all their free time. They hadn’t anticipated how difficult it would be to fill so many hours.

And they didn’t feel that old. They were still full of life and energy.

So to fill their time, they took part-time employment greeting tourists, welcoming them to their hometown.

At £10/hour, they were not doing it for the money. They did it because they enjoyed it…. And because it turned out they weren’t really ready to quit work completely.

Another colleague has two friends who've just retired and also find themselves bored and unsure of what to do with all their free time.

They are still in their early 60s – they retired a little early – and are contemplating going back to work full-time.

These stories are hardly unusual, because the face of retirement is changing.

Once upon a time, you hit “retirement age” – back when there was one – and that was it. You stopped work.

Perhaps you even retired early, in your 50s….

You could expect to enjoy a few golden years in retirement, and be able to fund that time.

But nowadays, people are living a lot longer, often into their 80s, 90s and even to 100.

They don’t necessarily have the money to stop work entirely by 65.

And even if they have built up an adequate pension pot, they don’t necessarily want to stop work. Some people feel at the peak of their career at 65, and still have a lot to contribute. They are still healthy, so even if they want to slow down, they might still have plenty of energy… and find retirement a drag.

So they continue working, in some form or another.

The stats bear this out.

graphMy survey showed that nearly 20% of people who had officially retired were still working on a part-time or casual basis. And 11% confessed that even though they had stopped working entirely, they were a bit bored!

More broadly, here in the UK, the number of people working between the ages of 65 and 69 has doubled between 2001 and 2014

These are mostly people staying on in their established jobs – not necessarily people seeking new, part-time or low-skilled jobs.

And you can expect this trend to grow, because The Office for National Statistics projects that more than a quarter of UK residents will be aged 65 years or over within the next 50 years.³

That’s the general picture.

But what does it mean to you?

How do these trends affect your own retirement plans?

That’s what I’m going to address in my next blog... Watch out for it.

¹ PS Aspire retirement survey, 177 respondents, May 2019

² Lain & Loretto, 2016

³ Overview of the UK population: November 2018, Office for National Statistics 

Posted by Peter Selby

Topics: Insights & Advice, Retirement


Ask The Experts

Want to get in touch?
Just fill out the form below and we will be in touch shortly.

Next Generation Financial Planning


Wealth Management

Strategic financial planning is essential in today's complicated world.  We work with you to find tailored solutions to help you achieve a secure financial future


Life Assurance

Giving you the peace of mind you need to live life to the full, knowing that you and your family are all covered against life’s unfortunate events



Looking to make a move? Tailored, qualified advice on the range of mortgages available to you

Find out more


Our experts provide advice on tax-efficient saving for a time after work

talk to us


How will your money work for you during retirement?  Our team can help you plan for your needs


Workplace Savings

Punter Southall Aspire is a major investment and savings business that blends a strong customer focused heritage with a modern and technology-led outlook.