Women are retiring seven years later than they were 30 years ago, according to a new analysis. They have almost caught up with men, with both sexes now retiring at an average age of approximately 64 (the gap is now a mere three months). The statistics come from the Phoenix Group’s Insights think tank, whose head of research analysis and policy Patrick Thomson says: “State pension age increases has been the primary driver behind this, but it’s not just about changes to pension policy. Women now make up a much bigger part of the workforce and greater workplace flexibility means more people now transition to retirement gradually, staying in work for longer on reduced hours. There has also been a trend towards self-employment among the over-50s. This can give people more choice and control over their working life, but may also be due to being unable to find work with an employer.”
Categories:
