Part time work 'may be the answer to pension shortfall'

An independent pensions expert has suggested that providing part-time work for over 50s could help them to support themselves in their retirement.

Pensions policy analyst Ros Altmann has highlighted the increased demands on over 50s' finances caused by longer life expectancy and worsening pension provisions.

Research published earlier this week by Key Retirement Solutions suggested that 17 per cent of pensioners in 2007-08 were still relying on income from earnings, compared to 12 per cent in 1997-98.

Ms Altmann suggested that the shortfall was partly linked to modern savings habits and people remaining alive for longer, proposing that both the government and pensioners should more seriously consider part-time work as a solution to the problem.

She said: "This is not about working till you drop but about working two or three days a week so that you have money to spend on your time off."

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