Research from Investec Wealth & Investment has revealed that more than one-in-10 retirees (11%) have returned to work and that another 4% are seriously thinking about it.
The survey of 2,000 UK adults aged between 50-55 also found that more than a third (36%) had stopped work in the past five years because of poor physical and mental health.
Some (4%) left work due to carer responsibilities.
The cost-of-living crisis, in the form of rising inflation and energy bills, was one of the main reasons cited for going back to the office (29%). More than a quarter of those surveyed (26%) were, however, looking for a new challenge.
Simon Taylor, head of strategic partnerships and platforms at Investec Wealth & Investment, said: “Rising inflation and the cost-of-living crisis is being particularly felt by 50 to 55-year-olds.
“It’s clearly an environment where advisers should be thinking differently about how to invest money in a post-retirement world than previously. We expect these risks to become a topic of conversation when the FCA conducts its thematic review of retirement income later this month.”
