Nearly one third of UK employees aged 55+ would like to keep working beyond retirement age, new research finds

Nearly one third (32%) of UK employees aged 55 and over would like to continue working beyond the official retirement age, according to new research from European HR firm SD Worx. 

Recent figures from Eurostat suggests many experienced employees are open to extending their working lives, with career quality likely to play an important role in their decisions. Additionally, 37% of employees under 35 and 30% of those aged 35-54 also say they would also like to work beyond retirement age. 

The research comes as over half (54%) of UK HR decision-makers surveyed say their organisation is facing a worker shortage. This highlights the importance of retaining experienced talent and creating workplaces which support employees at every stage of their careers. 

What would make people want to retire earlier?

For UK employees aged 50+ looking to retire before the official retirement age, having more time for themselves and their families is the biggest motivation.

• 66% want more personal or family time
• 46% want to pursue other activities or life goals
• 46% seek to prioritise health
• 33% cite declining motivation at work

Other factors that play into people wanting to retire early include those with physically demanding jobs (16%), jobs with limited career development opportunities (15%) and having sufficient finances to retire early (19%). 

Careers differ across generations

Despite some employees wanting to retire early, many older workers report positive experiences in their current roles.

Among employees aged 55+, a staggering 81% say their work has purpose, while 77% feel they have the energy to do their job well. Both figures are respectively higher than younger employees under 35 or under, at 73% and 71%, respectively. 

Younger employees report a slightly higher overall job satisfaction, with 77% saying they are satisfied with their work, compared to 74% of those aged 55+. 

Retaining talent means supporting career development 

The research highlights noticeable generational gaps in career ambitions and views on retention 

Younger employees are more likely to consider moving to another employer, with 44% actively or passively looking for a new job, compared with 15% of employees aged 55+. Similarly, 41% of under-35s are looking for a different role within their current organisation, compared with 11% of over-55s. 

Interest in learning and development also varies by age. While 75.9% of employees under 35 say they are eager to learn and grow at work, this falls to 44.4% among those aged 55 and over. Half (50.7%) of older employees say they do not currently need training or wider learning opportunities within their role. 

Older workers feel secure about AI, but training lags behind

As Artificial Intelligence continues to change the workplace, 67% of UK employees aged 55+ say they feel secure in their jobs as automation changes roles and tasks. Meanwhile, 79% believe their human capabilities cannot be replaced by AI. 

However, just 11% of over-55s regularly use AI tools at work, and only 10% say their organisation helps them develop the skills needed for an AI-driven future. 

By comparison, 52% of employees under 35 regularly use AI tools, while 48% say their employer supports them in building AI-related skills. Similarly, 67% of younger and 68% of older workers feel secure in their jobs. 

The research findings highlight an opportunity for employers to ensure employees of all ages can access the training and support needed to adapt to changing workplace demands.