UK – Half expect to retire later Department for Work and Pensions finds

Over half (56%) of UK pre-retirees have changed their mind over the last few years about when they expect to retire, government research reveals.

Almost half (49%) of respondents thought they would retire later than previously expected, with just 7% anticipating an earlier retirement than before.

The majority of respondents predicting a later retirement were women (56%), with 43% of men expecting to retire later on.

The research conducted by the Department for Work and Pensions (DWP) of 2,235 people aged 50+, found the average age that respondents thought they would stop working was 65.2, with 39% of respondents expecting to retire after reaching age 65.

Just under half (48%) of pre-retirees said they would still like to be working either full or part time between the ages of 65 and 70, compared to 40% who wanted to be retired at this age.

Chosen excerpts by Job Market Monitor. Read the whole story at  DWP research: Half of Brits expect to retire later – Workplace Savings & Benefits.