Phased or delayed retirements that became necessary during the financial crisis have now been accepted as the ‘norm’, according to Prudential.
A recent study from the provider found that 24 per cent of people who are scheduled to retire this year have already chosen to delay their plans.
The research was conducted by Research Plus among 7,687 UK non-retired adults aged 45+, including 1,012 intending to retire in 2015.
More than half - 51 per cent - of the ‘class of 2015’ would consider working past state pension age to help improve their financial position.
Some 21 per cent of people who are planning to retire this year said they do not feel ready to stop working altogether. This figure has remained stable since 2011 among those approaching retirement.
Furthermore, around 31 per cent of this year’s retirees said reducing the hours they work with their current employer is the preferred option for those want to continue working.
A total of 12 per cent would like to look for a part-time job with a new employer while 11 per cent say they’re happy to carry on full-time in their current job.
Stan Russell, senior business development manager for pensions at Prudential, said that people’s attitudes towards retirement are increasingly optimistic, especially with the new freedom on accessing pension savings that will come into effect this April.
“Planning ahead to help achieve a retirement income that will support these ambitions is vital and consulting a financial adviser or retirement specialist well in advance of any planned retirement date can help enormously.”
ruth.gillbe@ft.com
