46% of over-50s rethink retirement post-pandemic

A new poll shows a varied response to retirement plans as a result of the Covid pandemic.

Mature woman at home office desk with laptop

 

Twenty two per cent of workers who are over 50 say that the pandemic has made them want to retire earlier and as soon as they can, but 13% want to delay retirement because they have realised they enjoy working, according to a new poll.

The poll of 1,320 over 50s by WEALTH at work,  a provider of financial education and guidance in the workplace, also found 11% have had to delay retirement as they can no longer afford to retire.

Jonathan Watts-Lay, WEALTH at work, said: “The pandemic has clearly affected people’s retirement plans in different ways… Whilst this uncertainty can make retirement planning very challenging, what is certain is the more you plan for retirement and review your plans as your circumstances change, the more likely that you will be able to deal with all eventualities. Whether that be realising that you can’t yet afford to retire so have to work for longer, or even that retirement is more affordable than you thought.”

He added: “Many organisations recognise that their employees will need help with their retirement planning, especially through this difficult period and are putting support in place. It is worth speaking to your employers to find out what help is available.”



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