Dec 3 2008
In order to maintain what they consider to be an acceptable lifestyle, over a third of Britons believe they will have to keep working during retirement.
This is according to research from the Lincoln Financial Group, which found that more than one in three people surveyed had resigned themselves to the fact that they will not be able to give up paid employment.
In addition, it was found that, of people saving for retirement aged 55 and above, one in ten plan to engage in full-time employment in what should be their post-work years.
Commenting on the figures, Simon O'Connor, head of product and marketing at Lincoln Financial Group, said: "With over a third of retirees now either working full or part-time and 41 per cent believing their pension pot won't be enough to cover their lifestyle needs; it has become even more apparent that effective planning for retirement is essential."
Research published last month by Birmingham Midshires revealed that 22 per cent of people aged 55 and over are considering moving to a smaller property in order to boost their retirement funds.
