Millions of parents and grandparents are making retirement trade-offs to support children and grandchildren through university, Rathbones research has found.
A survey of 1,010 individuals who are funding education costs for children or grandchildren found that more than one in four (26%) are expecting to retire on a lower standard of living than originally planned. Nearly one in four (24%) of those surveyed anticipated delaying retirement, while 17% expected to reduce pension contributions due to university costs funding. More than two-fifths (43%) of those expecting to delay retirement said they believe they will need to work for an extra three years or more. This included 11% who said they would have to delay it by more than five years. ...
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
