52% of people would like to continue working in retirement even if they are financially comfortable, according to a new report from Standard Life. Of those, 42% said they would like to do part time work, while 10% said they would prefer to remain working full time.

The Bringing Retirement into Focus 2021 report conducted research among 1,150 adults in Ireland, across five different generations, looking at people's attitudes, expectations and experiences with regards to retirement.

Some of the main reasons stated for wanting to continue working were the fear of boredom (60%), enjoying the mental challenge of work (55%), enjoying the social interaction (53%) and fear of ageing faster (47%).

The research also found that only 24% of those who had retired already actually left the workforce because they didn't want to continue working. A further 26% said they felt they had no choice but to retire when their employment contract was up.

Are you prepared for retirement?

The traditional view of retirement is changing in Ireland. As this research shows, adults in Ireland are no longer taking the attitude that retirement means an abrupt halt to working life. For a lot of people now, it's more about a change in pace.

Of course, for both options, being prepared is key. The report has shown that only 31% of people feel prepared for retirement with just 29% saying they feel financially prepared. 48% say they feel socially prepared and 54% feel mentally prepared.

While having a pension is financially smart, the research has shown that by planning and engaging with pension saving throughout working life, it can have a positive impact on your attitude towards retirement when the time arises.

According to Standard Life's research, 52% of those with pensions say feel financially prepared for retirement versus just 19% of those without pensions, 47% of pension holders are confident they will retire versus 33% of those without a pension and 40% of those with pensions in place say they view retirement as a chance to fulfil their potential versus just 27% of those without.

Speaking about preparations for retirement, Alan McCarthy, Head of Distribution at Standard Life says:

"At Standard Life, we’ve realised for quite some time that the way in which our customers are planning for and experiencing retirement is changing... Whatever their plans, it is clear from the research that those who engage with a pension and plan ahead are more likely to feel confident and look forward to their retirement.

Through Standard Life’s Second Life platform, we’ve developed content, tools and services such as our End of Career Guidance counselling to support people as they navigate their way through the changing dynamics of retirement today. Together with advisers, we look forward to continuing to help customers plan for their best Second Life."

To learn more about how you can prepare to live your best Second Life with Standard Life, visit: www.StandardLife.ie/YourRetirementHub