The pandemic has resulted in many over 70s choosing to go back into work and delay retirement, finds a new study.
The ‘Back on Track’ survey, compiled by Retirement Villages Group, revealed that as many as 52% of those questioned want to go back to work in order to boost their finances, a third say their motive is to alleviate boredom and 21% want to contribute to society.
According to the findings, 10% of over 70s choosing to either stay or go back into work could add as much as £1.8billion to the UK economy per year.
Will Bax, CEO of Retirement Villages Group, commented, “Today’s research confirms that older adults have a critical role in ensuring the ongoing diversity and vibrancy of our society and economy. The pandemic has brought this reality into sharp focus, with many people over 70 forced to isolate for prolonged periods, curbing the active, independent and sociable lifestyles they would normally lead and temporarily separating them from communities.
“It’s vital, as we unlock from the pandemic, that we continue to reappraise how we view the great contribution of people over 70 to our culture and economy. Independent, positive ageing matters – not only to the long-term health and wellbeing of individuals, by keeping people out of hospitals and care homes for longer – but also to our society which is enriched by older people playing an active part.
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