Retirement retreating as financial pressures grow on the over-55s

Only a third of people stopped work when they reached the state pension age in the 12 months to February this year, according to new figures from research company Mintel.  This was a drop of 48 per cent on the previous year.   

Only one in eight of those questioned said that they had retired because they could afford to last year – demonstrating the financial pressures facing the majority of those reaching their official retirement age.

The report also shows that increasingly older people are raiding their retirement savings to help their children.

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