Standard Life's survey indicates that 16% of retirees have either returned to work (8%) or are considering doing so (8%), highlighting a trend of 'unretirement' driven by financial shortfalls. Mike Ambery, retirement savings director at Standard Life, noted that retirement is no longer a single moment where work simply stops, with more flexible approaches making it easier for people to stay in the workforce longer. Financial pressures are a key trigger, with 30% of retirees reporting their standard of living is worse than before retirement, compared to 22% who have seen improvement, and inflation has significantly eroded spending power.
A fifth of retirees admitted they did not realize how much money they would need, and 21% wish they had planned more thoroughly. Social factors also play a role, as some retirees seek work to avoid feeling disconnected. For early retirees or those without inflation-protected pensions, maintaining income requires more planning and often greater investment risk, according to Standard Life.
Ambery added that for some, returning to work is about staying active and connected, but for others, it reflects the reality that retirement isn’t always turning out as expected, particularly as rising costs put pressure on incomes. The survey did not specify the total sample size, and it remains unclear how this trend varies by demographics or what types of jobs retirees are taking.