41% of pre-retirees to delay retirement or work indefinitely

Over 2,000 adults over 55 surveyed as cost-of-living continues to bite

clock • 2 min read

The cost-of-living crisis is having a severe impact on pre-retirees’ plans to cease working as 41% intend to delay their retirement and 28% of those expect to work indefinitely.

A survey from Legal & General (L&G), conducted by Opinium Research, asked over 2,000 UK adults aged 55 or older who are still in work how the current crisis has impacted their retirement plans. According to figures from the Office for National Statistics there are over six million UK adults within the age bracket that still work, meaning 2.5 million people within the nation expect to delay their retirement plans or work indefinitely. Within this group 19% of them expect to work part-time for the rest of their lives, while a further 9% anticipate working full time. Pre-retirees that...

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.



Already a Professional Adviser member?


More on Cost of Living

The study was carried out with more than 200 advisers

Nearly a quarter of clients 'anxious' about ongoing inflation

Clients value reassurance from advisers during cost of living crisis

Sahar Nazir
clock 11 May 2023 • 1 min read
Boomerang retirees head back to work to make ends meet

Boomerang retirees head back to work to make ends meet

A look at retirees who have found themselves in 'financial limbo'

Laura Miller
clock 21 December 2022 • 2 min read
Gillian Hepburn

Schroders: Cost of living impact on financial plans to increase in 2023

The latest from PA’s Working Lunch webinar series

Professional Adviser
clock 14 December 2022 • 2 min read