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Over-50s considering returning to work due to concerns about retirement funds

The overwhelming majority of over-50s are not financially set for retirement due to the pandemic and cost of living crisis.

by | 6 Dec, 2022

Just under two-fifths of those aged 50-54 are happy their retirement funds are sufficient, rising to 55 per cent for those 60-65.

The worrying trend, highlighted in research from Handelsbanken Wealth & Asset Management, shows a staggering 86 per cent of those aged between 50-54 are thinking of going back to work, in a bid to get more cash. 

This comes amid the cost of living crisis, rising inflation and renewed pressure on people’s mortgages and borrowing costs due to high interest rates. 

While those aged 50-54 are likely to consider returning to work, people approaching sixty are also thinking it, to the tune of 65 per cent. 

Those in their fifties looking at going back into the office has gone up 14 per cent in just six months, while employees between 50-54 seen as less financially secure. Just 49 per cent were debt-free, excluding their mortgage. 

Read more at City A.M.

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