Thousands of pensioners 'still need to work'
There are many thousands of pensioners in the UK who still need to supplement their incomes by doing paid work, it has been revealed.
According to figures from the Department for Work and Pensions (DWP), the primary motivation for people who are still employed despite having reached the state pension age is the financial reward.
However, for many other people continuing to work is seen as a good way to keep active and to maintain friendships and social interactions, the DWP has explained.
Recent research by the department established that an increasing number of Britons are opting to work part-time before retiring entirely if they can afford to do so.
"Many of today's older workers are rejecting the cliff edge between work and retirement in favour of a gradual step down and employers should help them to do this," said pensions minister Mike O'Brien.
Many people use individual saving accounts as a way of saving for retirement and the tax-free threshold for these vehicles were recently increased in what the government described as being good news for British savers.
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