UK parents are being forced to delay retirement to meet the increasing costs of raising children, a study suggests.
A survey of 1,500 parents of children aged 18 and above by the Child Trust Fund provider, The Children's Mutual, found 57% of participants have "no choice" but to retire later. Four in 10 (43%) expect to work up to five years longer than they wanted because of the cost of their "adult" children. Almost 10% of parents believe they will now be forced to work over a decade longer with some abandoning the notion altogether. Eight in 10 (79%) of participants in the survey claim their ability to save for their retirement has suffered as a result of the unplanned financial support needed ...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
