More than a third of workers aged 55 and over take on gig economy jobs to help them ease their way into retirement, according to new research from insurance firm Zurich UK.

The research showed that 36% of gig economy workers aged 55 and over said flexibility and being able to choose the work they take on was the main attraction.

Zurich’s research found that more than one in ten of all gig economy workers surveyed only expect to stop gig work when they are over the age of 75, almost ten years after passing the State Pension age. 

“Not everyone wants to jump straight from working full-time into retirement, whether that stems from reluctance to stop a familiar routine or an enjoyable job, or simply because it will mean waving goodbye to a salary,” Chris Atkinson at Zurich UK, said. “As such, gig work is clearly a popular choice for near-retirees, allowing them to keep a form of money coming in without the traditional 9-5.”

“Instead of fully retiring, older people are using the gig economy to supplement or boost their retirement income, and it could play an increasingly important part in stretching out their pots as they live longer,” Atkinson said. “However, as the world of work continues to change at a rapid rate, it shouldn’t come at the expense of financial protection, particularly as older workers are more susceptible to illness.  It’s incredibly important that gig workers are aware of the benefits of protection in the first place and this is where information, guidance and advice play a key role at all ages.”

Among the criticisms of gig economy work, 44% of gig workers over 55 said lack of workplace benefits such as income protection, holiday and sick pay was put forward as a main drawback. Meanwhile, over a third (34%) said it was not knowing where their next paycheck would come from and 27% said it was not having access to a workplace pension.