ONE in ten workers do not plan to retire, according to new research findings. That amounts to more than three million people in Britain.
And a whopping 37 per cent said they do not know when they will stop work. That is an increase of three per cent on the last findings in 2014.
Why? One major reason is financial. Almost a third of the 1,500 who took part in the research do not pay into a pension. They face having to keep working after state retirement age.
Those with a plan actually intend, on average, to retire by the time they are 62.
Rod Aldridge, of finance company Baring Asset Management, is quoted in The Sun newspaper today: “It remains fundamentally important for all to get a better understanding of the benefits of planning ahead.”
But, with so many workers now on part-time or even zero hours contracts, how realistic is it to expect them to be able to put aside money into a retirement plan?