One in 10 older workers would delay retiring if their boss let them work from home

One in 10 workers would be prepared to slow down or delay retirement due to improved opportunities to work from home or choose their own hours, research reveals.

Flexible working has become much more widespread since the pandemic. However, also due to Covid there is now a shortfall in the workforce as many older people gave up work for good.

Among those rethinking retirement, 60 per cent said the change in working practices allowed them to transition to retirement more slowly, for example by going part-time.

And some 23 per cent have put plans to stop work on hold altogether, according to the research by adviser network Wesleyan Financial Services.

During the pandemic, some older workers seized the opportunity to retire early while others were forced to give up for reasons such as redundancy, their own ill health or caring duties.

and poorer workers to give up for health reasons, while those in the middle slog on well into their 60s, according to previous research by think tank the Institute for Fiscal Studies.

The previous Tory Government attempted to encourage professional 50-somethings to remain or return to the workforce with measures including

The new Labour Government is also expected to try to tackle the current gap in the workforce left by older workers as part of its bid to boost economic growth.

The research by Wesleyan Financial Services found that 26 per cent of over-55s either have already or are planning to 'unretire' by taking on paid work again.

Among this group, 22 per cent are doing it for the money, 19 per cent to keep their brain active, and 13 per cent to give themselves a better sense of purpose.

Wesleyan, which surveyed 2,000 people aged 55-plus, also found 28 per cent of them hadn't checked if reducing hours or going part-time would affect their pension.

Managing director Linda Wallace said: 'Any change to retirement plans, whether it's easing into retirement more slowly or bringing forward a retirement date, can have financial and personal implications.

'Delaying retirement, for example, can give you more time to build retirement savings and investments, but it can also mean having to postpone personal ambitions or projects.

'On the other hand, accelerating retirement may mean you need to stretch your savings for longer – but it can also mean you're free to pursue other pursuits, including different kinds of work or spending more priceless time with family or loved ones.'