Average retirement ages rose by almost one year between 2004 and 2010 according to research published by the Office for National Statistics (ONS).
The updated chapter four of its Pension Trends Survey revealed the average age for leaving the labour market, a proxy for average retirement age, rose from 63.8 years to 64.6 years for men and from 61.2 years to 62.3 years for women. It found that the peak ages for leaving the labour market clustered around the current state pension ages (SPA), which are 64-66 for men and 59-62 for women. The latest data in chapter two of the survey suggested the proportion of the population of working age will continue to shrink in the coming decades. There were 3.2 people of working age for every...
To continue reading this article...
Join Professional Adviser
- 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.