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.