Its about more than just the money for older workers

The majority (60%) of wealthy workers in the UK want to carry on working as long as possible research suggests.

The Government plans to get rid of the default retirement age of 65 from October next year and transitional arrangements will be in place from 6 April 2011.

Internationally, 14% of those who had already retired believed that reaching the normal retirement age was a “very important” reason behind their decision.

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Seven out of 10 wealthy workers under the age of 45 envisaged themselves being involved in commercial or professional work of some kind whatever their age, compared to 50% of those aged over 65.

Sarah Harper, professor of gerontology and director of the Oxford Institute of Ageing, said: “Over the last decade or so, everybody has started to wake up to the fact they’re not going to retire as our parents or grandparents did, and then have 30 years fully paid leisure with a high standard of living.”

The report surveyed over 2,000 individuals from 20 countries, all of whom had more than £1 million in investable assets.