Are you considering ‘unretirement’?

‘Great unretirement’ driving over-50s back into work amid soaring living costs

The number of people returning to the workforce has reached a record high in a sign that the cost-of-living crisis could be forcing people to top up their incomes.

Experts are suggesting there is a wave of over-50s returning to jobs which could be reflective of the “great unretirement”.

The phrase has been coined after the pandemic ushered in a wave of people quitting their jobs, known as the “great resignation”.

The Office for National Statistics is suggesting that people who previously chose to leave work are since seeking to plug the holes in their finances.

Helen Morrissey, head of pension analysis at Hargreaves Lansdown, said: “The great unretirement helped drive a record number of people back to work.

“After an exodus from the workplace during the pandemic, more people are swapping the sofa for the office chair again.

“The rising cost of living will be playing a part as people are realising their pensions may not go as far as they had expected”.

Have you considered returning to work after retirement? Perhaps you have decided not to retire and are working for a few more years due to the current financial climate. Have you taken on a part-time job to top up your pension?