‘I'm 75 and have no intention of retiring any time soon'

Telegraph

20-04-2025

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For Gill Mathias, retiring at 65 never really crossed her mind. Having set up her own coaching business aged 60, the 75-year-old is one of a growing band of women who have turned their backs on retirement to carry on doing what they love.
'I founded my own coaching business, Gold Coach, in 2010, and have been running it for the past 15 years. Apart from retraining, I have chosen to work continuously,' says Mathias.
She's not alone. 'More women are working beyond retirement age and for some, it's a positive choice – for the social interaction, sense of purpose or extra income. But for many, it's a financial necessity,' says Camilla Esmund, senior manager at Interactive Investor.
A record one in 10 women aged 65 and over are now in work, according to figures from the Office for National Statistics (ONS) covering December 2024.
While the state pension age increase to 66 is one significant factor behind this, so is the need to bolster retirement savings. Nearly one in seven women in Britain will need to continue working beyond the state pension age to top up their retirement income, according to the latest Scottish Widows Women and Retirement report.
Of those who do, 15pc expect to work for up to five years more to ensure they have enough money to fund their retirement, the report found, while 19pc think they'll need to continue working for an additional five to 10 years. Two million women don't think they'll ever be able to afford to retire.
But, for women like Mathias, work can be a way to improve their quality of life.
'I may be in my mid-70s, but I love having the opportunity to learn new skills and to meet clients, as well as other coaches,' she says. 'I believe that working at this age gives me a huge sense of purpose, and boosts me mentally, physically and emotionally.'
Mathias, from Ashby-de-la-Zouch in Leicestershire, is a member of Refirement.biz, a movement for people who are wanting to change the perception of what retirement looks like for women, and to challenge some of the inequalities they face.
She added: 'We are all living longer, so I want to show that working in later life is positive for your well-being.'
Mathias typically works three days a week. When possible, she takes time off during August and December.
'I'm a very active grandmother and love to spend time with my three children and nine grandchildren, who range in age from one to 22,' she says. ' Work-life balance is really important to me – I love spending time both with family and friends.'
Subject to staying in good health, the hard-working grandmother has no plans to retire.
She added: 'As a 75-year-old, I view each year as an opportunity to make my life more fulfilling and to make each day count. It also gives me the chance to share my expertise with others. This summer, I'm signed up to take a course on 'Podcasting and AI.' I have no intention of slowing down.'
'I've worked without a break since 1986'
Tricia Cusden, 77, has also welcomed the chance to work beyond retirement age.
For her, working in later life has all been about giving herself a new challenge, creating a new life – and throwing herself into a complete career change.
Cusden, who lives in Wimbledon, south west London, is the founder of Look Fabulous Forever, a make-up and skincare brand for older women. She set up the business in 2013 at the age of 65 and currently works part-time, around 15-20 hours per week.
'I have become the face and voice of the brand – and love what I do,' she says. 'This includes making video content, being photographed for social posts, and writing a weekly blog in order to reflect how it feels to be ageing in today's world. All of this means I have no desire to retire for the foreseeable future.'
In her 'former' life, Cusden was a management training consultant, and ran her own consultancy from 1996 to 2013.
'I haven't taken any time off for retirement so far,' she says. 'I've worked without a break since turning 38 in 1986. Prior to that, I stayed home for 12 years when my children were small.'
For Cusden, the decision to keep working has been purely from choice – and not financial necessity.
'I had built up a good pension pot and didn't really need more money,' she says. In fact, she opted to use some of that pot to fund the start-up phase of the business.
'At 64, I had been thinking about winding down my management training consultancy when a rather traumatic event in the family changed things for me. I helped to support the family for nearly a year until things gradually settled down,' she says.
At this point, she found herself wanting a new project – and the chance to create a new 'more fulfilling' life for herself.
'That's when I decided to start a new business in order to get myself re-engaged with the world,' she says.
Since then, the entrepreneur hasn't looked back. She now has an e-commerce business with a multi-million-pound turnover, and a team of 10, including her two daughters.
'I became a widow in my 50s, with no pension – retirement wasn't an option'
For others, of course, the decision to work beyond the 'usual' retirement age is quite a different story.
The reality is, many women continue to face significant challenges when it comes to building adequate savings for later life.
Lisa Picardo, chief business officer UK at PensionBee, said: 'More women over 65 are staying in work, partly by choice, but often out of sheer necessity.
'A combination of the rising state pension age, and a huge gender pension gap – of more than 38pc – driven by a persistent gender pay gap, likelihood of career breaks, and lower lifetime earnings, together with a longer life expectancy, is forcing many women to work longer than planned.'
For 67-year-old Caroline Romero from Cookham, Berkshire, there was no choice but to carry on working into retirement after her husband passed away unexpectedly.
'I started my own business, Grey Matters Consultancy, in 2012 when I became widowed and realised that I had to support myself,' she says.
This organisation empowers older and vulnerable people to get the help they need. The company has already grown into 12 franchises across the UK.
As founder and director, Romero typically works between 35 and 40 hours a week – but this has been quite a departure from her previous career.
'For more than 20 years, I ran a restaurant with my late husband,' she says. 'Alongside that, I raised a family and cared for foster children.
'I've worked continuously since my husband passed away. I currently work full-time, all-year round.'
This is essential, given neither Romero nor her husband had a pension plan in place.
'I had always expected to inherit a house and retire with him. Sadly, he passed away unexpectedly, and I was left with a mortgage and four children to care for. In those circumstances, retiring just wasn't an option,' she says.
Happily, the consultancy is now providing Romero with an extra income boost.
'Continuing to work has allowed me to maintain a decent standard of living,' she says. 'I want to stay in the home I've worked hard for – and I want to keep the lifestyle I've built over the years.'
She adds: 'If I were to retire, I would most likely have to sell my house and downsize – and those are things I'm not ready to do.'
At the same time, Romero has some very practical concerns about the future.
'People are living longer, and the cost of living is still on the up. Continuing to work gives me greater stability and peace of mind as I plan for the years ahead,' she says.
Equally, for Romero, working past 65 is about more than about balancing the books.
She says: 'I genuinely enjoy the work I do. Grey Matters was created out of my own experience of trying to navigate later life without the right support. Through the organisation, I now help others find their way. It gives me a real sense of purpose, keeps me active, and allows me to give something back.'
Romero has no set retirement date in mind.
'I'd like to carry on working for as long as I'm healthy and able to do so – and while I feel I'm still making a difference,' she said. 'For me, it's no longer just about the money, it's about staying connected and having a reason to get up in the morning.'
Stories like this demonstrate just how important it is for women to carry out their own pension planning. After all, you never know what the future holds.
Natasha Etherton, financial planning director at wealth manager Evelyn Partners, said: 'Where someone's partner has tended to lead on the finances, I'd strongly advise [for] that woman to get more involved in important financial decisions and planning.
'That way, it's not a shock when they need to deal with their own finances, either through divorce or death of a partner in later life.'
'My husband became unable to work. I stepped up – and made a success of it'
Returning to work aged 64, after taking five years off, has allowed Bev Slocombe to go through later life with real purpose and 'give something back'.
It has also provided a much-needed boost to her pension fund.
In her previous career, Bev was a travel agent. She now works full-time as a fundraising administrator for bereavement charity 2wish, which supports anyone affected by the sudden and unexpected loss of a young person aged under 25.
She and her 75-year-old husband live in Llanharry, a village in the county borough of Rhondda Cynon Taf, Wales.
Slocombe, who turns 70 this month, says: 'After stopping work as a travel agent, I then started volunteering for 2wish. In October 2019, when I was aged 64, I was asked to go and help with some admin jobs – and somehow I never left.'
After a brief spell as a temp, she was made permanent in April 2020.
'When I started on the zero-hours contract, my husband was still working, and earning enough for both of us. But then circumstances changed quite dramatically, and at 69, he was no longer able to work,' she says.
As the couple only had his pension to live on, Slocombe realised she would need to become the breadwinner.
She says: 'We thought we had made secure plans for our retirement, but this changed suddenly and unexpectedly. I was very lucky to get offered a permanent position. I stepped up – and made a success of it.'
She has now been working nine-to-five for the charity for the past five years.
'The extra income means we can do things that we wouldn't otherwise be able to afford, such as going on holidays and being able to treat the grandchildren,' she says. 'We don't have to watch every penny; this is really important to us.'
For Slocombe, the benefits of her job go far beyond what she earns.
'I love being part of a team that helps others,' she says. 'There's a mix of ages and it's very sociable. I love passing on my expertise to younger members.'
This is a key factor many employers forget.
'Those with up to 50 years of workplace experience have an incredible wealth of knowledge to share, to the benefit of employers, co-workers and customers,' says Dr Emily Andrews, deputy director for work at the Centre for Ageing Better.
For Slocombe, her job has also led her to take on challenges she might never have dreamed she'd do in her 60s. Last October, then aged 69, Slocombe climbed to Everest base camp with a team raising funds for the charity. At 65, she ran a half marathon.
'I find the job really rewarding,' she says. 'I want to go on working for 2wish for as long as I can.'