Our last blog, ‘Retired and Considering Returning to Work?‘, certainly struck a chord with many people who got in touch with us wanting to know more.

So, giving our readers what they want, we’ve compiled a more detailed list of pros and cons to help you with that “Should I or Shouldn’t I return to work” decision.

If you need any further help or support, please don’t hesitate to contact us by calling 0800 195 3750 or emailing info@icsuk.com.

Woman working at laptop


  • Financial: Whether your circumstances have changed, your savings are diminishing at a quicker rate than expected, a prime reason many people consider returning to work is to improve their financial situation But remember, it can have tax, pension and benefit implications, too.
  • Mental health: Studies indicate returning to work after retirement can decrease the risk of dementia due to the brain responding to continued stimulation and challenges with physical, functional, and chemical changes that help keep it active and healthy
  • Maintaining social contact: Many retirees report experiencing loneliness or isolation, which the benefits of regular social connection through returning to work can overcome, even decreasing chances of developing coronary heart disease, strokes, and cognitive decline.
  • Boredom: For many, retirement is a liberating experience. But, especially if your pension pot doesn’t now extend to as many adventures as you had planned, many retirees reported feeling aimless or struggling to fill their time after just five months, welcoming the opportunity to re-establish purpose and routines that returning to work can offer.
  • The opportunity to try something new: Returning to work in what’s been termed an “encore career”, often with less commitments and restrictions on choice, can be an opportunity to explore exciting new avenues that previously you weren’t able to-even, for some, starting your own business. (The number of self-employed people over 65 has more than doubled over the past five years, according to AgeUK.)


  • Impact on physical health: Keeping active is always to be recommended, but getting older can bring physical limitations and health conditions. Everyone’s health needs differ, so consider carefully the physical and mental impact of potential RTW roles, and if in doubt, speak to your GP.
  • Changes to the working environment: While the highest percentage of “unretiring” occurs in the first five years after retirement, working practices, environments and technologies can change with remarkable swiftness, especially in the post-pandemic marketplace. Feeling out of your comfort zone can be uncomfortable for those who have not considered this beforehand.
  • The job search and application process can be challenging: While headlines declare hunger for mature employees, applying can be a tough process, especially if its decades since you last had to dust off your CV. Even though age discrimination is illegal under the Equality Act of 2010, statistics still show unemployed over 50s can find it two and a half times harder than younger age groups to secure employment. Take heart that many companies value experience, and there’s plenty of support in broaching the job market and “selling” yourself to your best advantage.
  • Financial implications: As well as the obvious: providing an extra source of income, returning to work could push you into a higher income tax bracket on earnings, including personal pensions. Deciding whether to “unretire”, or the optimum hours to work, should be an important consideration, which friendly experts at ICS Accounting can advise you on, all the way to your pocket.

To ensure any unexpected issues do not catch you out, contact our team for advice or to discuss your individual requirements call 0800 195 3750 or email info@icsuk.com.