One in 7 plan to never retire - Retirement - News - Moneyfacts

News

One in 7 plan to never retire

One in 7 plan to never retire

Category: Retirement

Updated: 20/08/2013
First Published: 20/08/2013

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 It is now over 6 months old so the content may be out of date.

One in seven (14%) people have no intention of ever retiring, according to the latest research by Baring Asset Management.

This is the highest figure recorded since the annual study began in 2008.

In a further indication of the growing uncertainty facing many when it comes to planning for their retirement, the research revealed that 40% of respondents said they did not know when they will be able to retire, up from 38% in 2012 and 36% in 2011.

Thirty-four percent of those surveyed admitted they have no pension.

The survey also uncovered a growing gender divide, with the number of women who do not have a pension rising from 39% to 42% in five years, while the number of men without a pension has fallen from 30% to 26%.

"It is clear that uncertainty is increasing for many people around retirement plans, with more people unable to say exactly when they plan to retire and the average age continuing to rise," said Marino Valensie, chief investment officer at Barings.

What Next?

You could increase your income in retirement by up to 40% depending on your medical situation. Use our online Annuity Planner

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

The gender savings gap is widening

There’s a gender gap when it comes to most things in the financial world, and unfortunately, the retirement arena is no different: even though more women than ever before are saving for retirement, the gap between men and women is widening.

The gender savings gap is widening

There’s a gender gap when it comes to most things in the financial world, and unfortunately, the retirement arena is no different: even though more women than ever before are saving for retirement, the gap between men and women is widening.

The gender savings gap is widening

There’s a gender gap when it comes to most things in the financial world, and unfortunately, the retirement arena is no different: even though more women than ever before are saving for retirement, the gap between men and women is widening.
 
Close