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Would you prefer to work beyond 65 years of age?

As the UK government formally considers abolishing the age of retirement in the UK, many people are now asking themselves would they be willing to and indeed would they want to work beyond 65 years of age?

Traditionally people in the UK have worked upwards of 40 years in order to maintain a specific lifestyle and standard of living for their retirement years during which they can relax. However, a reduction in the birth rate of the UK population means that fewer workers will be paying into the UK government income pot, leaving less money for benefits such as pensions. Unfortunately it appears more and more of those who had previously been looking forward to retirement at 65 years of age may well need to work beyond this to live.

While this may sound like a knee-jerk reaction to the problem, there is no doubt, as we are seeing today with the ongoing reduction in real terms of the UK pension, that income and finance for the older generation will be more difficult to come by in the future. Unfortunately the vast majority of people under 40 years of age today may well need to work well beyond their 65th birthday in order to maintain an acceptable standard of living.

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