UK - More than half of UK workers plan to retire before 65, despite the fact few would have acquired sufficient funds to do so, Aon Consulting has warned.
A survey of 1,204 UK workers found 52% planned to retire before the current state retirement age, and only 14% of respondents said they were influenced by government policy.
Rather, most of those surveyed (51%) said their retirement age would be determined by their state of health and ability to carry out the job, while nearly a quarter (22%) were adamant they would not continue working after 65.
That will come as worrying news to the government, who are planning on raising the retirement age to 68.
Aon Consulting head of DC Paul Macro said the survey illustrated the “rude awakening” facing many people regarding retirement.
“While most would like to choose when they retire based on ability to do the job, few will have built up enough funds to allow them to retire comfortably at 65 and certainly not any younger,” said Macro.
“The expectation gap between desires and reality is shown by the quarter of people refusing to work beyond the official retirement age, even if they haven’t got enough to retire on.”
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