Work & Careers: Exploring the Rising Trend of Self-Employment Among Older People in the UK
Rising Trend in Self-Employment for Older People
The latest UK employment and unemployment statistics illustrate that the number of self-employed workers aged 60 and over has skyrocketed to a staggering 991,432 in 2023. This represents a remarkable increase of 33% over the past decade, according to analysis conducted by Rest Less, an organization devoted to providing tailored advice for older individuals.
Reasons Behind the Surge
- Economic Necessity: Many are compelled to seek income due to the UK cost of living crisis.
- Desire for Engagement: Others view self-employment as a way to stay active and engaged beyond the traditional retirement age.
Implications for Retirement Planning
This trend highlights the importance of retirement planning and may influence future discussions surrounding the official retirement age. As society evolves, it’s imperative for individuals and policymakers to rethink the pathways toward secure financial futures.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.