More than 2m pensioners are unable to find suitable work to fund their later years, according to National Association of Pension Funds research.
The NAPF research showed that among those in the ‘retired’ group who were not working, one-third (2.1m people) would like a job that offers some flexibility and is not too physically demanding, but have not been able to find one.
Of the ‘non-retired’ group, more than 30 per cent, or 3.2m people, were not working. NAPF said many more 50 to 70-year-olds in this group could also be looking for suitable employment.
The 50 to 70-year age group covers a range of people – those who are professionals or who are coming to an end of their career, or those who are looking for a second or even third career.
Adviser view
Anna Sofat, managing director of London-based Addidi Wealth, said: “Increasingly, health, flexibility, agility and transferable skills will be the key to success in this age group.
“As such, the government’s response needs to be multifaceted – it needs continued commitment to education and training for the over-50s as much as legislation focused on reducing ageism in the workplace.
“At present there is focus on the legislative framework but little in the way of preparing people for this phase in their lives.”