Hard-up Brits 'face retirement delay'

14/01/2009

Concerns over retirement income are leading many workers to stick with their jobs past the age of 65, it has been revealed.

According to Life Trust research, 23 per cent of Brits "can no longer afford" to retire when they originally planned to.

Around half that total (12 per cent) said that they might even have to delay their retirement for five years of more - while just three per cent see them working for another year only.

Andy Briscoe, chief executive of Life Trust, said: "Retiring early is a privilege that was, until very recently, an ambition for many people. However, with worsening economic conditions coupled with increasing life spans this is now something fewer people are able to afford.

"This is all the more reason for people to understand the true cost of retirement and look at all the options that are available to them for financing their later years."

Age group breakdowns of the Life Trust study also show that almost a third of 45 to 54-year-olds are looking to retire later than originally planned.

Tags; Income Worries and Debt, Retirement Money Problems,

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