• Home
  • /
  • Posts
  • /
  • News
  • /
  • Older Brits in need of cash return to work in droves as cost of living chaos destroys budgets

Older Brits in need of cash return to work in droves as cost of living chaos destroys budgets

Money is a key motivator for older workers returning to work as the merciless cost-of-living crisis increasingly bites, it has emerged.

by | 19 Dec, 2022

The Office for National Statistics has published experimental data on the motivations for the over 50s to return to work.

Money is an important motivation to return to work for all groups, particularly younger groups, with 69 per cent of 50–54-year-olds citing it as a motivation. This compares to 62 per cent of 55–59-year-olds and 59 per cent of 60–65-year-olds.

Those aged 50 to 65 years who would consider returning to work said they initially left the workforce to retire (24 per cent), change of lifestyle (17 per cent), redundancy (17 per cent) and stress (15 per cent).

Read more at City A.M.

More from Financial Accountant

How the UK’s rollback of banking regulations could risk another financial crisis

How the UK’s rollback of banking regulations could risk another financial crisis

Money laundering plays a key role in every part of the illegal drugs industry. Here’s how it works

Money laundering plays a key role in every part of the illegal drugs industry. Here’s how it works

‘I’ve never paid myself’: why the reality for female entrepreneurs doesn’t always match the rhetoric

‘I’ve never paid myself’: why the reality for female entrepreneurs doesn’t always match the rhetoric

Sustainability ideals are often crushed by corporate demands. Here’s how businesses can let them flourish

Sustainability ideals are often crushed by corporate demands. Here’s how businesses can let them flourish

‘I was left with nothing.’ Why apprentices are being pushed into the informal economy

‘I was left with nothing.’ Why apprentices are being pushed into the informal economy

In the struggle to get Britain working, the long shadow of austerity could be part of the problem

In the struggle to get Britain working, the long shadow of austerity could be part of the problem

Share This