Retired Britons can boost their finances and their health by taking on paid work, new analysis has suggested.
Age Concern and Help the Aged said that the risk of suffering from depression can be lower if the elderly person has a job to go to.
Meanwhile, recent research from the University of Maryland, published in the Journal of Occupational Health Psychology, has suggested a link between maintaining good mental health and taking on paid work.
The Royal College of Psychiatrists also highlighted the impact of finances on mental health earlier this month, when it suggested in a report that 50 per cent of people in debt could also be mentally ill.
Older Britons can use a part-time or full-time job to improve their financial position and pay down their debts.
Equity release plans also represent a potential solution to money worries and can be taken out both by people who are fully retired and those who are still in work.
Andrew Harrop, head of public policy at Age Concern and Help the Aged, said: "The sense of achievement and fulfilment deriving from having a rewarding job can also help fend off depression and other mental health problems.
"Working after retirement or deferring the drawing of the state pension can boost older people’s income and prevent the sharp fall in the standard of living experienced by many after retirement."
Posted by Tom Papworth
