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retirementThe results of a recent survey have revealed that a rising number of workers in America are keen to be able to continue working past the official retirement age. According to the survey there are various reasons behind the rising number of people who want to be able to continue working past the full retirement age, with financial concerns being one of the key reasons behind this.

The study was carried out by the Aegon Center for Longevity and Retirement, which said that more than two thirds of workers in the United States wanted to be eased into retirement gradually rather than having to retire once they reached a certain age. The study was carried out on Americans that were nearing retirement age and many of those responding also stated that they were looking to try and get working hours that were outside of the usual 9-5 hours.

Top reasons for want to work after retirement age

There were a number of reasons identified by the survey with regards to why so many American workers want to continue working past their retirement. Amongst the top reasons that were given were being able to continue being active, enjoyment of working, and a desire to continue earning money rather than having to turn to social security. Many were concerned about their financial security after retirement.

According to Merrill Edge, the financial benefits for those who worked past retirement age rather than claiming social security could be huge. An analysis found that in addition to being able to continue earning a regular income by working past the official retirement age, workers could also receive considerably more in social security each year. Figures from Merrill Edge showed that a worker who would receive $24,000 in social security annually at the full retirement age of 65 would actually be able to bump that amount op to $31,000 by waiting an additional five years.

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Unfortunately, according to the survey by Aegon, most workers who want to continue working with their existing employer past retirement age are not being given the option to do so at present. Only 25 percent of workers in the USA aged over 55 said that their current employer provided them with the chance to move to part time work so that they could ease themselves into retirement gradually. An official from Aegon said that this could be harming businesses, as it meant that they were passing up an opportunity to benefit from the skills and experience of those that may have been working for them for many years.