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UK workers expected to work after retirement

Less than a third (29%) of UK workers expect to stop working altogether after retirement, research by Aegon has found.

The survey reveals that 36% of people in the UK expect to continue working part-time or on temporary contracts during retirement.

Another 14% believe they will work in some capacity after they retire.

The survey interviewed 16,000 people across 15 different countries and discovered that Western European workers are more likely to associate retirement with an end to working life.

More than half of Spanish (52%) and French (51%) workers expect to stop working when they retire, while 36% of Swedish workers believe the same.

The poll also found:

  • 39% of respondents don’t have any financial retirement plan
  • 12% have a retirement plan written down.

Daniel Macmillan, managing director at Aegon UK, said:

“We are living longer and many people can expect to spend twenty or thirty years in retirement. As a result it is not surprising that many people intend to work part time in retirement and balance flexible working against leisure and activities they’ve always wanted to do.

“However, increased flexibility means people have more choice about how they take their pension income and it will become increasingly important that people have a plan in mind.”

 

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