UK - Workers do not want to phase-in their retirement despite government pressure on them to do so.
Research by the department for work and pensions found less than a third of people over 50 want a phased retirement.
In fact, the majority planned to retire before 65 – with women planning to retire at 61.7 and men at 63.6.
But pensions minister Malcolm Wicks managed to stay upbeat about the findings, concentrating on the third of the population who wanted to phase-in their retirement.
He said: “This report confirms that many of those nearing, or at, state pension age do not necessarily want to stop working completely, but instead want to choose how and when they stop working.”
Conservative work and pensions spokesman David Willetts criticised Wicks for trying to spin the findings.
He said: “Malcolm Wicks seems to have missed the point completely. This research shows just how many people want to move to complete retirement without any phasing.
“The fact only a third of people want to phase retirement is a reminder that still for many people work is hard, demanding and physical and people look forward to a break from it.”
The research is central to the implementation of the policies set out in the government’s pensions Green Paper to remove the barriers and increase the choices for older people to participate in the labour market.
The DWP is actively trying to encourage people to phase their retirement and work beyond the state pension age.
Apart from gender, the type of pension scheme also appeared to have an effect on retirement plans.
Some 40% of those with defined benefit schemes planned to retire early compared with 25% of those with defined contribution schemes.
The findings were published in the department for work and pensions’ research report, 200 Factors Affecting the Labour Market Participation of Older People.
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