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Steven Cameron, Pensions Director at Aegon said: “Regardless of who wins the presidential election, the US will soon have a president who has opted to work well beyond traditional retirement age in arguably the most high pressure, full-time job available worldwide. |
• Trump aged 70 and Clinton aged 69 are both working past traditional retirement ages “The presidential hopefuls are in good company. There’s a growing trend towards working to a later age with 1.2 million people in the UK workforce aged 65 or over. Pensioner households are now typically supplementing their incomes with an average of £148 per week from employment and this trend looks set to continue as generous defined benefit pensions become increasingly rare. While it’s good news that more older people have the option of working to a later age, not all will want to. Average healthy life expectancy at 65 is around ten years, but for some this figure will be less and they may be unable to work. It’s therefore important that people start making retirement provisions early so that it’s a personal choice over whether or not to keep working rather than a financial need.” |
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