Most wealthy employees ‘want to work past retirement age’

Posted 28/09/2010

The majority of wealthy British workers hope to carry on past the retirement age, a new report has indicated.

The Barclays Wealth survey discovered that 60 per cent of the country’s high net worth individuals want to work for as long as they can.

It also revealed that seven out of ten wealthy workers under the age of 45 see themselves being involved in commercial or professional work of some kind whatever their age.

The government is planning to shake up employment law by phasing out the default retirement age of 65 from April 2011 – a move that has been welcomed by personnel groups and age campaigners.

Commenting on the Barclays findings, research officer at Brighton Business School David Lain told Personnel Today that wealthy employees enjoy a greater level of control over their working lives than those who are less well off.

He said poorer workers “lack the levels of education and health of the richest and have often had more precarious employment in the past”.