One in five Britons believe they will have to work until they drop in order to have a comfortable retirement, a survey suggests. A further three in 10 expect to continue working until at least a few years past the state retirement age. The study of 2,000 over 40s by Aviva found that more than three quarters are worried about being able to afford all they have planned during their retirement. Another 64% are concerned about paying for day-to-day living costs. Despite these fears, around three in 10 over 40s have no plans in place to fund their retirement. Even of those that have a financial plan, 64% said it is probably not going to be enough to do everything they want to do. On retirement, the average Brit is planning to go on three holidays, one of which is abroad, run a car and fill their time with a host of new hobbies and activities. With bills and day-to-day living expenses to cover as well, that means the average pensioner needs to have almost £1,200 coming in each month to have the kind of retirement they are looking forward to. That amounts to a total of £14,185 for every year of their retirement – or nearly £30,000 for a couple.
Posted on: Wed, 09 Jul 2014 15:16:01 +0000
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