"The great news that lots of people are living longer has undoubtedly resulted in a large number of older people that need support and care in their later years. The baby boomers represent a huge demographic of retirees and we need to plan properly to ensure they get the services they need without impacting on the overall economy.

"The key will be to redefine notions of retirement in order to utilise the value that our ageing population represents. We  are  currently  wasting vital resources as millions of older people may  find  they  are not using the skills they’ve acquired throughout their lives.  By  embracing  and  in  fact welcoming the opportunities of working during  part  of  these  bonus years, we can help boost our ailing economy, ensure  less  reliance  on  the  state  and ultimately make retirement more fulfilling.

“Our research shows that many of our over 50s already want to work past 65, either part time or full time. Slowly but surely, more and more people are recognising the tremendous opportunities and benefits that living longer, healthier lives can offer and retirement needs to catch up with people's lives."

ENDS