Brits keen on early retirement

 

BRITS KEEN ON EARLY RETIREMENT
Article date: 29/09/2005 : 12:33:46

While the UK may be known for long working hours it seems Britons plan to trump their European counterparts when it comes to retirement.

New research by conducted jointly by Brahm and Cicero Consulting revealed that over a quarter of workers plan to retire before 60.

In comparison only eight per cent of German respondents anticipated retiring by the age of 60.

On the other hand 33 per cent of Britons expect to work beyond 65 to ensure a decent standard of living when they do stop working. These respondents were, however keen to look at alternative and more flexible methods of working.

Robin Horsfield, associate director and head of research at Brahm explained: "People are starting to understand that retirement at 65 is not a given and are open to new approaches to their working and retirement life. We look to pension providers to consider how they market their pension products in relation to changing lifestyles and savings attitudes."

On the subject of state provision, Britons appear to embrace financial autonomy with only 17 per cent envisaging three quarters or more of their pension to come from state provision, compared to 64 per cent in Spain and 41 per cent in France and Italy.
 
 
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