Tonight: Who Wants to Work Forever?

More than a million people over the age of 65 are currently still in work in the UK and that figure is expected to rise dramatically over the coming decades.

While for some, working beyond their retirement age may be a lifestyle choice, for many it’s a financial necessity because over the years they’ve failed to put enough into their pension.

Experts warn that, as a country, we need to start taking action now if we’re to avoid a poverty-stricken retirement. In tonight’s programme - on ITV at 7.30pm - Fiona Foster investigates just how the pensions crisis is affecting people of different generations.

To help Fiona in this quest financial trouble-shooter Sarah Pennells goes along to meet the Manchester Bees Dodgeball team - a young, vibrant group of twenty-somethings - to see just how much thought they have given to pensions and whether the Government’s auto enrolment scheme is helping them plan for a secure retirement.

Incredibly, a recent survey revealed that a third of us have no pension plan whatsoever. And with the state pension landscape changing at an unprecedented rate we can no longer rely on the government to bail us out.

Although the pension crisis is affecting people of all ages, there is one particular group causing most concern. Those in the middle of their careers, typically in their 40’s, who have missed out on the generous company funded pensions enjoyed by their parents generation, and now simply don’t have enough years left for their pensions to earn enough interest to fund their retirement.

To find out more about this problem we sent our expert, Sarah, along to help and advise senior medical writer, Alexandra, who is typical of this group. A 46-year-old single mother, like many others, Alexandra has found it difficult saving for retirement and is currently facing a substantial pensions gap.

Finally, we meet two older workers who, for different reasons, have had to re-think their pension plans. Paul Murray, an HR consultant from West Yorkshire, had diligently saved for his retirement for over 40 years but after the projected figures he’d been given failed to materialise he now faces the prospect of working into his seventies.

And David Buck who was a self-employed fitness instructor, running his own gym before the strains of his work took it’s toll on his body and forced him into early retirement. However, it was this enforced change that inspired him to turn his hobby into his career and he now runs a successful microlight flight school.

Tonight: Who Wants to Work Forever? is on ITV at 7.30pm

Useful link:

PRIME - supporting business creation by the over 50s