A new report has been published providing insight into those who choose to work beyond the state pension age.
Changes started being phased in from November 2011 to the state pension age, bringing gender equality as well as extending the state retirement age for all sexes to 66 by 2020.
The Office For National Statistics published the 'Older Workers in the Labour Market 2012' report provides some intriguing figures:
- Since the early Nineties, more than twice the number of people are working beyond the state pension age.
- Self Employment is more prevalent within the older age bracket.
- Post retirement age, men are in more skilled employment than women.
- More than 50% of post-retirement workers are in small firms (Less than 25 employees).
- Workers continuing to work beyond retirement are working shorter hours often with their existing employer - 80% having been with that employer for 5 or more years.
If you would like to check what your state pension age will be, use this simple state pension age calculator
- just enter your date of birth and sex. It uses the latest Government figures to calculate your retirement age.