• UK
  • World
    • USA
  • Entertainment
    • Celeb
    • Showbiz
    • Magazine
  • Politics
  • Sports
  • Gaming
  • Tech
  • Science
    • Education
  • Insurance
  • Business
  • Auto
  • ToS/Contact
    • ToS
    • Privacy Policy
    • Contact
NewsExplored
  • UK
  • World
    • USA
  • Entertainment
    • Celeb
    • Showbiz
    • Magazine
  • Politics
  • Sports
  • Gaming
  • Tech
  • Science
    • Education
  • Insurance
  • Business
  • Auto
  • ToS/Contact
    • ToS
    • Privacy Policy
    • Contact
  • Facebook

  • Twitter

  • LinkedIn

  • Tumblr

  • RSS

UK

REVEALED: Four in 10 British workers fear they will NEVER be able to retire

REVEALED: Four in 10 British workers fear they will NEVER be able to retire
Newsexplored
9th February 2017
7
SHARES
ShareTweet
SubscribeRedditGoogleWhatsappStumbleuponPinterestDiggLinkedinTumblrTelegram
Views:
12

GETTY

Many Brits are fear they will never fully retire amid worries about savings and pensions

The goal of a work-free life in old age is just a pipe dream for many amid worries about long-term savings and pensions.

The survey of 1,599 adults found those under the age of 35 were more likely to be resigned to remaining in jobs until they die.

There are vast regional differences, according to the poll by analysts Mintel.

Related articles

  • What is the lifetime ISA and how does it work?
  • Should YOU get a Lifetime ISA? Martin Lewis shares tips on the new ISA

A staggering 45 per cent of Londoners are unable to imagine escaping the grindstone, falling to just a third of those working in Scotland.

Rich Shepherd of Mintel, said: “Too many people have a negative view of retirement, with many expecting their generation’s retirement to be less comfortable than both those who came before and those to follow.

savingsGETTY

The poll conducted by Mintel found vast regional differences

“Rising state pension ages and the struggle to save adequate funds for retirement make it easy for consumers to compare their prospective retirement with previous generations and see that they will have to work longer and receive a less comfortable pension.

Too many people have a negative view of retirement

data-ad-format="auto">

Rich Shepherd of Mintel

“For some, the situation is negative enough to call the very concept of retirement into question.”

The study found that 39 per cent of current workers are more likely to agree that they will never fully retire.

The World’s Oldest Workers Wed, February 8, 2017


Whether they’re workaholics or simply serial socialites, you have to admire their tenacity.

The world's oldest surgeon, she's 89 and still performs 4 surgeries a day. 1 of 6

The world's oldest surgeon, she's 89 and still performs 4 surgeries a day.

Those most likely to have resigned themselves to a life of work are aged 18 to 34, at 42 per cent, in comparison with around one in three of those aged over 54.

But while many see no end to a working life, it seems some have their eyes firmly fixed on their “golden years”.

One in three plan to retire as soon as they can claim the state pension, peaking at 42 per cent of men aged 25 to 44.

And while the decision of whether and when to retire is split between different age groups, so too is the vision of retirement.

stressed business manGETTY

A staggering 45 per cent of Londoners felt they would remain in jobs until they die

Overall, almost two-thirds think that their generation will not have as comfortable a retirement as previous ones, rising to 65 per cent of Generation X, defined as those born between 1965 and 1979.

The pessimism explains why a minority of Britons own a pension plan, at 42 per cent although the figure is up from 38 per cent in 2015.

A breakdown of that figure shows that just over half full-time employees and 42 per cent of men have any type of pension.

pensionersGETTY

One in three plan to retire as soon as they can claim the state pension

The number falls to 35 per cent of part-time workers, 17 per cent of self-employed individuals, and 31 per cent of women.

Away from pensions one fifth of people expect to use funds from their cash ISA to help fund retirement, 33 per cent expect to use money from a savings account.

Mr Shepherd said: “While there is an awareness among consumers that they should contribute more, relatively few do anything about it.

“More could be done to help consumers bridge the gap between knowing that they should save more, wanting to save more, and actually saving more.”

Related articles

  • Retirement age in Britain could rise to 74 as pension bill soars
  • Maternity services could reach 'CRISIS POINT' in next few years
  • Financial advise for pensioners: Make your savings pot go further

Share this:

  • Click to share on Twitter (Opens in new window)
  • Click to share on Facebook (Opens in new window)
  • Click to share on Google+ (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Tumblr (Opens in new window)
  • Click to share on WhatsApp (Opens in new window)
  • Share on Skype (Opens in new window)

Related

Related Items
UK
9th February 2017
Newsexplored @newsexploredweb

Related Items

More in UK

  • Read More
    Newspaper headlines: Over-40s April jab and ‘happy as Harry’

    Views:12 By BBC NewsStaff image captionPolice and teaching unions have criticised the government’s decision to roll out...

    Newsexplored 9th February 2017
  • Read More
    Scotland’s papers: ‘Day of reckoning’ and Queen issues vaccine plea

    Views:12 image copyrightThe Scotsman image copyrightThe Herald image copyrightDaily Record image copyrightScottish Sun data-ad-format="auto"> image copyrightScottish Daily...

    Newsexplored 9th February 2017
  • Read More
    ‘Life was a party before Aids arrived in London’

    Views:12 By Sarah LeeBBC News image copyrightGordon Rainsford At the start of the 1980s, gay men in...

    Newsexplored 9th February 2017
  • Read More
    Newspaper headlines: ‘Do one’s duty’ as Queen makes ‘vaccine plea’

    Views:12 By BBC NewsStaff image captionThe Queen features on many of the front pages after urging people...

    Newsexplored 9th February 2017
  • Read More
    Salmond and Sturgeon: How the best of political double acts fell apart

    Views:12 By Glenn CampbellPolitical editor, BBC Scotland image copyrightPA Media For 10 years Alex Salmond and Nicola...

    Newsexplored 9th February 2017
  • Read More
    India in astonishing Test win over England inside two days

    Views:12 England have been bowled out for less than 200 in five consecutive innings Third Test, Ahmedabad...

    Newsexplored 9th February 2017
  • Read More
    Scotland Six Nations clash postponed over Covid outbreak

    Views:12 France are favourites to win the Six Nations after victories against Italy and Ireland Scotland’s Six...

    Newsexplored 9th February 2017
  • Read More
    Princess Latifa urges UK police to reopen sister’s kidnap case

    Views:12 By Jane McMullenBBC News image copyrightSUPPLIED image captionPrincess Shamsa fled her father’s estate in the summer...

    Newsexplored 9th February 2017
  • Read More
    Covid-19: A-level and GCSE results to be decided by teachers

    Views:12 By Sean CoughlanBBC News family and education correspondent image copyrightGetty Images image captionThere will be optional...

    Newsexplored 9th February 2017
  • Read More
    Newspaper headlines: Teachers get ‘sweeping powers’ and Sunak’s ‘giveaway’

    Views:12 By BBC NewsStaff image captionMany of the papers focus on new rules to be announced on...

    Newsexplored 9th February 2017
  • Read More
    Covid-19: ‘Getting married is the most important thing’

    Views:12 By Kate Scotter and Phil ShepkaBBC News, East image copyrightBushfire Photography image captionIt is hoped all...

    Newsexplored 9th February 2017
  • Read More
    Neil Lennon: Celtic manager resigns with side 18 points adrift of Rangers

    Views:12 Celtic manager Neil Lennon has resigned with his side 18 points adrift of Rangers in the...

    Newsexplored 9th February 2017
Scroll for more
Tap
data-ad-format="auto">
NewsExplored

NewsExplored - Making sure all the latest news is explored?

Contact us for help

  • Popular

  • Latest

  • Comments

  • Transfer rumours: Kounde, Haaland, Bremer, Neuhaus, Balogun, Ziyech, Raphinha
    Sports13th February 2021
  • Station reopening at Bow Street brings first trains for 56 years
    UK14th February 2021
  • Manchester United 3-3 Everton: Dominic Calvert-Lewin scores late goal to deny hosts
    Sports6th February 2021
  • Super Bowl half-time show: How did The Weeknd do?
    Entertainment8th February 2021
  • John F Kennedy: When the US president met Africa’s independence heroes
    USA27th February 2021
  • Biden’s Covid stimulus plan: It costs $2tn but what’s in it?
    USA24th February 2021
  • Tiger Woods suffers ‘multiple leg injuries’ in Los Angeles car crash
    USA23rd February 2021
  • Nasa’s Perseverance rover in ‘great shape’ after Mars landing
    USA19th February 2021
  • Les Rehrer says:

    Hello Its me :P and thanks for this post

  • optumrx login says:

    Thank For News.

  • Kent Laatsch says:

    Please let me know if you're looking for a writer…

  • Bob says:

    RT News was where I learned that Erdogan controlled isis.…

Copyright © 2018 Top News Theme. Theme by MVP Themes, powered by Wordpress.

Leonne Weeks funeral: Hundreds gather to pay their respects to ‘beautiful’ teen
Nicola Sturgeon accused of FAILING Scottish children after damning education report
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok