Britons take pensions earliest in Europe but go on working

clock

Britons take their pensions earlier than workers in other EU countries, but also work later into old age, research suggests.

The findings offer a warning to savers who planned to access all of their pensions under the new retirement freedoms next year, that if they take too much, too early they could be forced to work longer. The average British worker first accessed personal pension savings at the age of 58, according to research by The European Commission, the Telegraph reports. In just a handful of eastern European countries did people take their pensions earlier. By contrast, Spanish workers accessed pensions at 62 on average - four years later than British employees. The gap was seven years in Norwa...

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

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Reeves to consider £2bn raid on tax-free pension lump sum

Reeves to consider £2bn raid on tax-free pension lump sum

Telegraph reports PCLS cut could help plug £50bn public finances hole

Jonathan Stapleton
clock 21 August 2025 • 3 min read
State pension age review: Govt launches call for evidence

State pension age review: Govt launches call for evidence

UK faces long-term demographic pressures

Jenna Brown
clock 18 August 2025 • 2 min read
'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

'Barriers are institutional, not technical': Industry split over ten-day pension switch proposal

After PensionBee calls for a legally enforceable transfer guarantee

Sahar Nazir
clock 18 August 2025 • 2 min read