‘Pandemic retirees’ return to work as inflation hits value of pensions

Some retired people miss the office so much that they return to the workforce
Some retired people miss the office so much that they return to the workforce
ALAMY

Tens of thousands of over-65s have returned to work or have put off retirement in recent months, reversing the pandemic trend of older people leaving the workforce.

Experts say a net 174,000 increase in older people in work may indicate that retirees have returned to the labour market as inflation at a 40-year high puts pressure on their pensions.

About half a million workers, mostly the over-50s, left the workforce during the pandemic. Many went into early retirement, while others left owing to long-term illness. However, in a partial reversal of that trend, there were 1,468,000 over-65s in work in the three months to June, up from 1,294,000 in the first quarter of the year, according to the Office for National Statistics.

The official