Brits finish early
Thu 14 Feb 2008
Nearly half of all British workers retire early, according to new research. A study by the insurer, AXA, has revealed not all of these employees have stopped work out of choice. It found that 20 per cent of workers have been forced to retire by their employers. Steve Folkard, head of pensions and savings policy commented: "Despite legislation making it unlawful to discriminate against workers on the grounds of age, our study clearly shows that some employees are still being coerced into early retirement." However, the study also found Brits were more likely to retire early out of choice than most international workers. Almost half of the UK workforce stopped of their own accord, while only 23 per cent of French workers handed in their notice early. Of all the UK retirees, only 11 per cent took a second job in retirement despite more than half saying they would do so when they quit. The UK job market has so far proved resilient to international financial problems and unemployment is still at a 30-year low.
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