The people choosing ‘half-retirement’ in their 50s and 60s

For generations, retirement was seen as the reward at the end of working life. Put money into a pension, pay off the mortgage, stop working in your 60s and finally relax.

But a growing number of older Britons are quietly rewriting the script and opting for what has become known as “half retirement”.

This is when someone continues to work part-time, taking on flexible side jobs or reshaping their career around their lifestyle rather than ambition.

Some are doing it because the cost of living has made retirement more expensive, and others want extra money for travel, helping children financially, or simply maintaining a comfortable lifestyle.

David Samuel, 59, falls into this category.

On paper, he has reached the point many workers spend decades aiming for.

He has paid off his mortgage, his children are grown up and married, and he has a considerable nest egg to get him through his golden years.

He has accumulated around £300,000 since he first started contributing to his pension pot at just 18. But he doesn’t plan on retiring.

“Despite technically being in a position where I could begin winding down towards a more traditional retirement, I have no desire to stop,” he says.

“Instead, I believe I have discovered something better – half retirement. I had an ‘aha’ moment when I was about 55. I was chatting with a client and suddenly realised I didn’t actually want to retire in the conventional sense. What I wanted was freedom, flexibility and meaningful work,” he explains.

After building and running his own business – which coached other business owners – from the early 1990s through to 2017, David could easily have stepped away completely.

But he’s gradually reshaped his working life so it involves less hours.

He currently works 20 hours a week and laughs at the idea of ever fully being “off duty”. Though he was once a very hands-on boss, he now focuses more on working directly with his clients, and has handed over the reins of managing his company.

David, from Lymington, Hampshire, added: “I’m still on call if people need help but it doesn’t feel like work in the old sense anymore.”

Financially, the arrangement works well, with David earning a comfortable wage while intentionally trying to live primarily from his income. This allows him to preserve his wife Linda’s pension savings.

He said: “We pay the bills, go on holiday, enjoy life and still save where we can. Emotionally and financially, it feels perfect.

“Retirement is no longer a goal for him, he said. He just wants to stay “useful, curious, and financially comfortable for as long as possible.”

David is not alone, according to figures from the Department for Work and Pensions (DWP), 10 per cent of working adults aged between 40 and 75 are semi-retired.

Caroline and Murray Sims, both 65, are also among those finding new ways to make retirement income stretch further, by working part-time.

The Wiltshire couple returned to the UK after spending more than 30 years living abroad in Brunei, South Africa, the Middle East and Luxembourg.

After relocating back to the UK in 2021, after Murray retired from his role in finance, they began home sitting as a way to maintain flexibility while supplementing retirement income.

The role involves caring for homeowners’ properties and pets while they are away, and it can earn people up to £150 a week alongside food and travel allowances, Caroline said.

She explained: “We really wanted something that allowed us to keep our independence and continue to travel. Home sitting has given us that flexibility.”

They do this around six or seven times a year, and the length can vary from a few days to a few weeks.

The couple said the financial impact has become particularly noticeable during winter months.

She added: “With the cost of living as it is, it definitely helps. When we’re away on assignments, especially in the winter we notice a difference in our utility bills.”

Murray said it provides routine and purpose that many retirees lose after leaving full-time careers.

He explained: “I always look forward to a sit. You’re in a different environment, caring for animals, and it gives you a real sense of purpose. It doesn’t feel like work in the traditional sense.”

Over the years, the couple have looked after dogs, cats. Ponies, goats, ducks and chickens, often building relationships with homeowners that lead to repeat bookings.

Caroline said: “It’s been a wonderful way to ease back into life in the UK. You’re saving money, doing something enjoyable, and still have the freedom to travel and make the most of being retired.”