One in ten older Brits will need to delay its retirement
Of all the British people who are supposed to retire this year, 10% of them will need to make alternative arrangements and put off drawing their pension.
New research from Prudential's Class of 2012 revealed that, of those meant to retire in 2012; two thirds (68%) said they are putting it off because they can't afford to retire as originally planned. A further third (32%) claimed they don’t want to retire yet.
"One thing this year's retirees have in common is actively making choices about when and how they will retire. Although many people think the idea of retiring as early as 60 is out-dated, the majority of this year's retirees are defiantly sticking to that plan,” said Vince Smith-Hughes, Prudential's retirement income expert.
With more of us living longer being able to pay for that Stannah stairlift or that round the world cruise that you hoped for in retirement is now nothing but a pipe dream for many.
Smith-Hughes, however, added that it is undeniable that there is a new retirement reality for a significant number of retirees.
“People are living longer, and for many, the very real prospect of a thirty year retirement is either unpalatable or unaffordable, hence the decision by many to continue to work. Retirement is also becoming a more opaque concept, with many people working part-time, either out of necessity or desire,” he said.
With all of this doom and gloom in mind – should we all pack up the day job and embark on a life of leisure, travelling and adventuring while our bodies hold out. It’s tempting I know!