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When you think of retirement, does your first state pension payment coincide with instantly downing tools and picking up a golf club? Or is it too soon to give up work altogether?
Around 71pc of over-50s think retirement is no longer about stopping work, but moving towards a more flexible way of working, according to Fidelity.
Marianna Hunt, personal finance specialist at Fidelity International, said: “Retirement is increasingly becoming less of a hard stop and more of a gradual transition. Many people are rethinking what later life looks like, with part-time work, flexible hours or passion projects becoming an important part of the mix.”
However, finding a new role in later life can be a struggle. With that in mind, Telegraph Money has created a list of part-time jobs perfect for those easing into retirement, offering the flexibility to earn some extra money without making you feel like you’re back at the coalface.
Put your DIY skills to use
B&Q is renowned for valuing older workers, particularly for the experience and know-how you’ll have picked up over the years. Roles are varied, and there may be flexible or part-time opportunities that fit in with your availability.
Alternatively, you could try Local Treasures Home Service, which can match you with people in your area who need jobs done – whether that’s DIY, gardening or building flat-pack furniture.
How much will I earn? B&Q currently pays a national minimum base rate of £13.10 per hour for standard shop-floor workers, but this can vary depending on location and role.
If you go down the handyman route, pay will vary depending on the job you’re doing and where you live, but according to Checkatrade, average earnings for a handyman are £80 per visit or £30 an hour.
Become a ‘helper’ for those living nearby
Lots of people want to “give back” when they retire, and one way to do that is to help support elderly people in your community.
Lucy Standing, founder of Brave Starts – an organisation that helps older people find work – suggests Good Life Sorted, a platform that matches self-employed “helpers” to local elderly people who need extra support.
This doesn’t involve personal care; rather, it’s about helping out with light work and odd jobs. This could include anything from meal prep to dog walking, medication reminders, laundry or help with paperwork. You could also take your clients shopping or on days out.
Importantly, you get to decide how much work you take on and search for jobs nearby, so there’s no danger of feeling like you have to continue your commute.
How much will I earn? You can set your own rates, but if you’re too expensive, you may not get many matches. Good Life Sorted says the typical range is between £15 and £20 an hour. So, if you work 10 hours a week at £20 an hour, you could earn £608 a month (after the platform’s commission has been deducted).
Get on the road
If you’ve got a clean driving licence and you’re confident behind the wheel, there’s a range of driving jobs up for grabs.
You can often set your own hours and you won’t be bound by the same four walls, day in, day out.
Working as a driver doesn’t have to mean filling your boot with countless online shopping orders (though these jobs are often available). According to Rest Less, a job site specifically for the over-50s, there is a diverse range of driving roles you could get involved with, from taxi and delivery drivers for local businesses to school transport drivers.
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You could even drive a “pet taxi” – a specialist service for helping those without transport to get their four-legged friends to vet appointments, day care, dog sitters or the groomers.
How much will you earn? At the time of writing 24x7 was looking for school transport drivers in Cumbria, with pay ranging from £688 to £1,100 a month, depending on the route (listed on Rest Less).
Keep yourself, and others, fit
If you’re in good shape and enjoy exercise, you could earn some extra cash by teaching others how to stay in their later years.
Lots of older people will enjoy exercise classes in retirement, but might not necessarily want to be taught by a young, fit 20-something.
YMCAfit offers courses that let you train to become personal trainers, as well as yoga and Pilates instructors. If you’re already qualified you can also take specialist courses in running exercise classes for seniors.
Alternatively, Move it or Lose it runs courses that train you to become a fitness instructor for older adults.
How much will I earn? Pay rates will vary significantly according to what you’re teaching and where you’re located. According to job site Indeed, the average pay for a fitness instructor is £14.46 an hour.
Join the death care sector
While it’s perhaps not as fun as leading an aerobics class, working in the funeral sector can be incredibly rewarding. Those with life experience may be better able to support bereaved families during a difficult time.
If you’re happy working regular hours, you may be able to join a funeral service crew – a team that supports funeral directors to prepare the deceased and help with logistics on the day of the funeral. You might have to bear the coffin, drive the hearse or handle queries from the bereaved family.
Alternatively, if you want more control over when and where you work and you’re a confident public speaker, you might consider becoming a funeral celebrant.
The role involves officiating and organising ceremonies and supporting the family in the run-up to the event.
You don’t need any formal qualifications, but it will help to complete a funeral celebrancy course first.
You can also train to be a celebrant for weddings and naming ceremonies as well.
How much can I earn? Funeral service crew in London can expect to earn around £14.50 an hour. Funeral celebrants, meanwhile, typically earn around £200 for officiating a funeral, according to the UK Society of Celebrants.
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Target the companies that embrace older workers
As mentioned, B&Q is one of several companies that make a point of hiring older workers – if you want a steady job with an employer, it’s worth keeping these in mind:
- B&Q: After removing the upper age limit for workers, B&Q can be a great destination for older employees, who can work in its retail stores or offices.
- BT Group: To fix the problem of high staff turnover and a disconnect between young call handlers and older customers, BT Group has created more part-time roles to encourage workers looking for flexibility – perfect for those aged 50-plus.
- Unilever: The company’s U-Work scheme has been running for five years, matching a pool of workers to short-term projects and assignments, making it ideal for those moving from full-time work to retirement.
- Govia Thameslink: There is no upper age limit for recruitment, with adult apprenticeships offering a way into working in customer service, engineering or railway operations. Some have entered the business in their 70s.
- EasyJet: A growing number of over-50s are swapping their jobs for life as cabin crew, and easyJet seems to be only too happy to facilitate the switch.
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Choose your own side hustle
Alternatively, if you’re happy to start your own business or side hustle, there’s no end to the money-making opportunities in retirement.
You might want to use your career experience to offer consultancy services, start baking birthday cakes to order, or provide dog-sitting or dog-walking services. It comes down to what you enjoy doing, your skills and the demand in your area.
But if you do become self-employed, it’s important to be aware of the admin that goes with it.
For example, you’ll need to make sure you keep track of your income. Although you can earn £1,000 a year tax-free from a side hustle (your trading allowance), earnings over that could be subject to tax. Once your earnings reach certain thresholds, you may also need to comply with new Making Tax Digital rules.
Depending on what you do, you may need to tell your home insurance provider if you’re running a business from your property and potentially take out additional cover, such as public liability insurance.
