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Later retirement planned by 36% of over 50s

Retirement is looking to be a more distant prospect for 36% of people aged over 50 who say that they expect to retire eight years later than they expected when they were in their 40s.

This is one finding from a new report from insurance giant, Aviva.

When asked why expected retirement is being put back the most common reasons were a lack of pension savings and a low state pension but also a willingness to stay working for longer because the person wanted to!

The view from employers is rather different with 32% worried that they will lose important skills from the workplace because the new pension freedoms will give people more flexibility to retire when they want.

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