UK – Nearly two-thirds of employees say they expect to retire in their 60s, and 17 per cent in their 70s

The British Social Attitudes Survey (BSAS) is an annual face to face survey of approximately 4,300 people in private households, aged 18 and over. They are selected at random to provide a representative picture of attitudes of the population.

This report outlines headline findings from the subset of questions included in the 2015 BSAS questionnaire focused on Fuller Working Lives – the policy that looks to address the main reasons why older workers fall out of the labour market.

The key findings are:

  • Nearly two-thirds of employees say they expect to retire in their 60s, and 17 per cent expect to retire in their 70s.
  • Those in younger age groups were more likely to say they expect to retire in their 70s (37 per cent of 18-24s, 21 per cent of 25-34s).
  • Of those who expected to retire at 65 or before, the most likely reason given was because they wanted to (36 per cent) followed by being able to afford to (20 per cent).
  •  Of those already retired, 39 percent said they did so because they wanted to; 20 per cent said they retired due to ill-health.
  • Currently employed adults said that their employer could offer the following tools to keep them working:
    • Flexible hours (47 per cent).
    • Part-time working (46 per cent).
    • Taking on a less demanding role (30 per cent).
  •  The proportion of respondents saying that they would take up the option to update their skills to help them work longer decreased as household income increased.

This report highlights a number of areas where employers could make changes to retain older workers. It also shows that there is increasing awareness of pensions in the general population.

Chosen excerpts by Job Market Monitor. Read the whole story at Attitudes to working in later life: British Social Attitudes 2015 – GOV.UK


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