The Ageing workforce

Ageing Workforce

When do you plan to retire?

Saving for your retirement is a lifelong undertaking – and if you want to enjoy a comfortable retirement, you can’t start planning soon enough. The more you contribute to a pension now, the better chance you’ll have of that money growing and funding your retirement in later life.

But the proportion of UK employees who say they will work beyond the age of 65 has remained at three quarters (72%) for the second year running, significantly higher than in 2016 (67%) and 2015 (61%), according to latest research[1].

Nearly half (47%) of those who say they expect to work beyond 65 will be older than 70 before they retire, up from 37% in 2017, while almost a fifth (17%) expect to be older than 75. Workers aged 35–44 are most likely to say they expect to retire after their 75th birthday (27%).

WORKING PAST 65

Later retirement

Preparation for your future

There are important decisions to make in preparation for your future and at retirement. Even if this seems a long way off, having a plan in place is vital to ensuring the lifestyle you want is achievable. We can help you at every step. To discuss your plans call 1st Financial Foundations, please contact us on 01908 523 420

Source data: [1] Research conducted by Canada Life using ONS Employment Figures, May 2018.