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THE number of people over the age of 50 in work is set to reach a record high by 2030, a report said today.
Research suggests that almost half of those in the older age group will be in work within the next decade, compared with fewer than a third in 1992.
The figure has increased by 36 per cent in the last 20 years, according to a study by Legal & General Retail Retirement (LGRR) and the Centre for Economics and Business Research.
Around one in 12 people over the age of 66 is in work, putting in an average of 26 hours a week, said the report.
LGRR chief executive Andrew Kail said that the research reveals a “significant cultural shift” in the world of work.
“People are continuing to work for longer in order to reach their desired retirement lifestyle, but also in response to changes in wealth, state pension provision and to reflect the fact that we are living longer as a society.
“This creates a much more challenging hurdle for people to overcome in order to fully retire.”
