Longer life planning​

Living longer could change the way we think about work, retirement and the time in between. Rather than a simple path of education, work and retirement, more of us may take career breaks, learn new skills, change direction or work more flexibly throughout life.

Our Life100+ research explores what this could mean for you at every stage of your career. It shows that a longer working life does not have to mean doing the same job for longer. With the right planning and support, it could create more opportunities to shape a working life around what matters to you.

This is about having more choice, not following one fixed route.

At a glance

Work could look different in a longer life

More people now think they could live to 100 and beyond. In 2024, only 17% of the population thought they could live to 100. By 2026, it was 29%.

This greater awareness is changing expectations. People increasingly recognise that they may need to review how they save, work and plan for retirement.

What this might mean for you:

• Building skills throughout your career, not just at the start.
• Changing roles, sectors or working patterns more than once.
• Taking planned breaks for caring, travel, study or wellbeing.
• Gradually reducing hours rather than stopping work all at once.
• Reviewing retirement plans regularly as circumstances change.

There is no single right approach. What works for you will depend on your health, financial circumstances, responsibilities and goals.

Your priorities at work may change over time

Salary and work-life balance remain important throughout our careers. But our research suggests that what motivates us can evolve as we get older.

In earlier career stages, we may be more focused on developing skills, progressing and exploring new opportunities. As we move through midlife, work-life balance can become especially important while we manage family, caring and financial responsibilities.

Later on in life, many people place more value on:

• Work that feels purposeful
• Feeling respected and recognised
• Having autonomy and flexibility
• Staying mentally and physically active
• Connecting with others
• Using their experience to make a positive contribution

This can be a useful reminder to revisit what you want from work. The role that suited you 10 years ago may not be the one that suits you now, and that is perfectly normal.

The mid-career years can be a key moment

Our research found that optimism about work tends to decline in the years approaching retirement. Only 19% of people aged 55 to 64 expect their work to improve in the future, compared with 76% of those aged 18 to 24.

This does not mean that your later career must be less fulfilling. It highlights an opportunity to pause and consider what would make work feel more sustainable and rewarding.

You could ask yourself:

• Do I still enjoy the work I do?
• What would make my role more manageable or meaningful?
• Are there skills I would like to build or refresh?
• Could a different role, working pattern or career path suit me better?
• How does my current work fit with my plans for later life?

A conversation with your manager, employer or a financial adviser could help you explore your options.

Flexibility means more than flexible hours

Flexible working can be valuable, but people’s needs may go beyond where or when they work. Our research suggests that many people would welcome greater flexibility across their whole career.

For some, that could include:

• Moving to part-time, seasonal or project-based work
• Taking a career break or sabbatical
• Retraining for a different role or sector
• Reducing hours gradually as retirement approaches
• Taking time to support family, care for others or focus on wellbeing
• Combining employment with self-employment, freelance work or a side project

Reducing hours or taking time out can affect income, savings and pension contributions, so it is important to understand the financial implications before making a decision.

Workplace benefits can support a longer working life

Employee benefits can help support financial, physical and emotional wellbeing. While salary, holiday entitlement and pension contributions rank highly, people also place significant value on health and protection benefits.

When people think about living longer, protection and wellbeing benefits become even more important. The largest increase in importance was for critical illness cover, rising from 52% to 62%.

Your workplace benefits may change as your circumstances do. It can be worth reviewing them at least once a year, as well as after a major life event such as moving home, having children, changing your working hours or approaching retirement.

Planning for retirement is not a one-off task

Retirement may not be a single finish line. You might choose to keep working in a different capacity, reduce your hours, move to a less demanding role or combine work with other interests.

Amongst people aged 65 and over who are working, or may work in future:

Whether you plan to stop working at a particular age, phase into retirement or stay active in a new way, regular reviews can help you make decisions with greater confidence.

Our research shows that 78% of people think workplaces should offer an annual retirement-planning consultation with a financial professional. Professional financial advice may help you understand how choices such as reduced hours, a career break or working beyond State Pension age could affect your income, pension and wider plans.

Choose your next move

You could start by:

Your career and priorities can change over time. Whether you are thinking about your next role, a career break or retirement, a small step now can help you feel more prepared.

Continue your Life100+ journey

Further resources

Important information

This information is intended as a general guide only and is not personal financial, legal or tax advice. Consider taking appropriate financial, legal or tax advice before making decisions about retirement, savings, investments, gifting, inheritance, estate planning or family support.