Aviva research reveals an 'eagle-eyed generation' of retirees ready to challenge the younger workforce

Article date: 11 January 2012

  • 86% think they could do a better job than some younger people at their roles.
  • 67% believe the younger generation moan too much about their work-life balance.
  • 83% think they are more practical than the younger generation.

The latest research from retirement specialist Aviva has unleashed a new work hungry generation of retirees who are ready to embrace part-tirement and continue working.

It has long been thought that upon retirement, the majority of people would relish in the idea of long days playing golf, socialising, going on extended holidays or taking up a new hobby. However, as we have detailed in our own Real Retirement Reports, retirees are now facing a challenging landscape of decreased savings and an increase in personal debt. This not only highlights a generation of over 55s wanting to get back to work as an activity to do, but also those retirees who simply cannot afford to stop working, no matter what their age.

From knitting to networking… bingo to banking…

It is this generation that the new research from Aviva has polled and found an upsurge in those ready to get back to work and compete with the younger generation for career opportunities.

The research also found:

  • 72% of retirees think they could give a graduate a "run for their money".
  • 80% of retirees believe they would be more confident in the work force now, than in their earlier working life.
  • 63% would relish the opportunity to replace someone younger in the UK work force should they be given the chance.
  • 53% of retirees think they would dedicate more time to a career than their younger counterparts, with 77% of retirees stating that no longer having children to care for is the main reason for this.

Clive Bolton, ‘at retirement’ director at Aviva, said: “The perception of retirement is one that is constantly being rethought. As individuals face an increasingly challenging economic environment, it seems that for many the dream retirement is now one in which they can maintain their quality of life by remaining economically active. It would seem that this is not only to boost their income, but the evidence would suggest that many retirees are keen to get out into the work force and put their lifetime of wisdom and skills to use.” 

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If you are a journalist and would like further information, please contact:
Tom Wilson
Aviva Press Office
Telephone: +44 (0)1904 692053
Email: tom.wilson@aviva.co.uk

Methodology: 1,379 UK adults aged 55+ were surveyed by OnePoll in October 2011.

Notes to editors:

Aviva is the world’s sixth largest* insurance group. We provide 44.5 million customers with insurance, savings and investment products with total worldwide sales in 2010 of £47.1 billion**.

We are the UK’s largest insurer with over 14 million customers. Our combination of life, health and general insurance is unique in its scale and breadth in the UK market.  Customers can choose to buy our products through intermediaries, our corporate partners or from Aviva direct and we have become the partner of choice for many of the UK’s biggest organisations. 

We are ranked as one of the UK’s top 10 most valuable brands and Aviva plc are in the top 10% of socially responsible companies globally in the Dow Jones Sustainability World Index. In 2010 we invested £4.3 million into our communities in the UK, which included 1,500 Aviva volunteers giving 24,000 hours for good causes. In addition, our employees gave £600,000 through fundraising and donating. Read our corporate responsibility report at www.aviva.com/2010cr.

Aviva is working in partnership with Railway Children through the Aviva Street to School programme to get children living or working on UK streets back into everyday life. Find out more at www.aviva.co.uk/street-to-school.

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* based on gross worldwide premiums at 31 December 2010.
** at 31 December 2010.

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