{"id":186272,"date":"2025-10-03T00:21:10","date_gmt":"2025-10-03T00:21:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/186272\/"},"modified":"2025-10-03T00:21:10","modified_gmt":"2025-10-03T00:21:10","slug":"900000-state-pensioners-face-having-to-find-jobs-as-warning-issued","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/186272\/","title":{"rendered":"900,000 state pensioners face having to find jobs as warning issued"},"content":{"rendered":"

As the retirement age hits people, data shows workers staying in jobs longer.\"900,000900,000 state pensioners face having to find jobs as warning issued<\/p>\n

Nearly 900,000 state pensioners face having to find jobs in a pension crisis. As the retirement age hits people,<\/a> data shows workers staying in jobs longer.<\/p>\n

Men are now typically leaving the workforce at 65.8 years, while women retire at an average age of 64.7. Stephen Lowe, group communications director at retirement specialist Just Group, said:<\/a> “These are some of the most skilled and experienced workers in the country.<\/p>\n

“For the economy to grow, we need to see many more of these people returning to productive roles in the workforce.” Mr Lowe said: “With the rises in state pension age and life expectancy it is making more financial sense to work until later in life, which is what the figures reveal.”<\/p>\n

READ MORE UK households can get free home renovation worth \u00a330,000 to make house warmer<\/a><\/p>\n

Among the 60-64 age group more than three-quarters (76%) had not retired. Of these, 39% said they felt prepared for retirement with 38% saying they did not feel prepared with 23% feeling neither prepared nor unprepared.<\/p>\n

For the age 65-69 cohort which straddles State Pension Age, one-third (31%) were yet to retire. Of these, 45% said they felt prepared for retirement while 31% felt unprepared, with 24% neither prepared nor unprepared.<\/p>\n

Mr Lowe said: “The lack of opportunities for this age group remains a real and growing problem.”<\/p>\n

Mr Lowe said that it was important to use the resources available, including advice or guidance offered by an employer or the scheme, and potentially a regulated adviser.<\/p>\n

He recommended everyone should use the free, independent and impartial government-backed Pension Wise service, which is aimed at helping those people considering accessing defined contribution pensions.<\/p>\n

The service receives very positive ratings from its users. Mr Lowe said that the research shows that about three-quarters of working Baby Boomers have a workplace pension.<\/p>\n

But this is split between 45% with a defined contribution pension and 39% with a defined benefit pension (only 10% have both). 17% have never had a workplace pension and a further 10% aren\u2019t sure.<\/p>\n","protected":false},"excerpt":{"rendered":"As the retirement age hits people, data shows workers staying in jobs longer.900,000 state pensioners face having to…\n","protected":false},"author":2,"featured_media":186273,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[64,63,99,16884,186,184,185],"class_list":{"0":"post-186272","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-dwp","12":"tag-finance","13":"tag-personal-finance","14":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/186272","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=186272"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/186272\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/186273"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=186272"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=186272"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=186272"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}