Many people may be forced into an unwanted retirement over the age of 50.
That is the finding of a new report by the TUC, which has discovered that almost half of all unemployed people over 50 have been out of work for a year.
However, setting up a business could be one way of avoiding retirement, Laurie South from Prime has suggested.
"You are unlikely to get back into the labour market if you are out of work for six months after being redundant," she said.
"You stand a one in ten chance, so what we do is help people start their own business. It’s a much better solution."
She added that the issue has become bigger now as many know someone in their 50s who is out of work.
Key Retirement Solutions have seen equity release as the solution for some for funding their new business ventures.
