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Retirees favour wealth over health

Retirees favour wealth over health

Category: Pensions

Updated: 12/03/2010
First Published: 12/03/2010

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Employees have been urged to put more into their pension, after almost three quarters of workers said being financially secure would make them happy in retirement.

Having enough money to comfortably get by was voted above all other essential ingredients for happiness in retirement by 71% of people surveyed by the National Association of Pension Funds (NAPF).

Good health (69%), being able to travel (48%) and being surrounded by family and friends (45%) all trailed in behind.

Yet just 34% of people surveyed were confident that their pension will give them the security they desire.

Even more worrying was that only 21% of women felt their current pension provision would be adequate to keep them content.

"In the retirement happiness stakes, wealth edges ahead of health because it lays the foundation for future life after work," said NAPF Chief Executive, Joanne Segars.

"The challenge for the next decade is closing the gap between what people want in retirement and how confident they are in getting it, even more so for women."

On a lighter note, amongst other key findings from the survey, one in seven people said the thing they would most miss about no longer working was getting time away from their partner!

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