One in four Britons will delay their retirement as a result of the economic downturn, research from Life Trust suggests.
The firm says its research shows early retirement is becoming an 'unaffordable luxury' for many due to the faltering economy and rapidly increasing longevity. Life Trust's survey of more than 2,000 British workers found 23% will have to delay their planned retirement as they can no longer afford it. More than one in ten say they will delay their retirement by up to five years, with a further 8% planning to work for an extra two to four years because of the recession. The number rise for those already approaching retirement, with 41% of over 55s claiming they have delayed their retirem...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes