As many as a third of people nearing retirement will work beyond the age they expected due to the impact of the recession on their pensions, according to annuity provider MGM Advantage.
Almost a quarter (23%) of over 55s say they will now be forced to work past the statutory retirement age of 65. Craig Fazzini-Jones, director at MGM Advantage, comments, "One of the most worrying consequences of the economic turmoil is the knock-on effect for those approaching retirement. "Millions of people nearing the end of their working life have been forced to slog it out for a few more years to see if their pension pots will make any kind of recovery. For many it is not a choice, but a necessity." Post-retirement preparations are non-existent for a huge proportion of peo...
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