Zurich Predicts Rise in Pensions Advice Popularity

The new trend for "returnment", which has seen many of Britain's over-65s either carrying on in their job or returning to work after retiring, could cause a spike in the popularity of pension savings advice.

This was the main finding of new analysis from insurance firm Zurich, which was released yesterday. The firm also cited recent research into the subject that it had conducted, which showed that around 38 percent of people over the retirement age are currently working.

Increasing life expectancies in the UK, which mean that people will require pensions for longer and longer periods of time, are expected to strengthen the trend, particularly as Zurich also found that the single biggest reason retirees returned to work was because their savings and pensions were not enough to live on.

Dave Lowe at Zurich commented: "As life expectancy continues to rise and the amount of time people spend in retirement increases, we are urging advisers to review their clients' retirement planning. With more and more people expecting to be active in retirement, the need for financial advice has never been greater.

"As more and more people are re-evaluating how they spend their retirement, advisers have an important role to play in helping people plan for their retirement."

Other reasons for "returnment" uncovered by Zurich in a poll of over-65s include "wanting to stay active", cited by 25 per cent of the sample, and "being bored in retirement", cited by 15 percent.