Just two out of five people who are close to state retirement age believe they have saved enough to afford to be financially comfortable when they stop work, latest research from MetLife Europe shows.
The study among men aged 59 to 64 and women aged 55 to 60 shows one-in-three will continue to work either part-time or full-time in order to have a decent lifestyle, with one-in-five accepting that retirement will have to mean lowering their standard of living.
It found men are more likely to keep working in retirement - saying 32% of them will work part-time and 7% will work full-time compared with 22% of women continuing to work part-time and 5% working full-time.
MetLife UK managing director Dominic Grinstead said: "Of course many people will welcome the chance to work past retirement age and increased longevity means they are more than able to but ideally that should be a choice rather than a necessity."
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