Mar 20 2008

Pre-retired Brits 'looking forward to putting their feet up'

Many of the people approaching pension age in the UK are looking forward to retirement as a time for them to "put their feet up".

Research by Prudential has found that a majority of pre-retired Britons feel that they will be in a position to take more control of their lives once their working days are over.

Almost a quarter of those polled as part of the pension provider's 'Class of 2008' report said that they hope to spend three months of each year outside the UK when they retire.

And with younger generations focussing on saving for retirement, Prudential reports that more than ten per cent of those who are set to start drawing a pension are planning to write a novel while they have the chance.

Gary Shaughnessy, managing director of retail life and pensions at Prudential said: "While those retiring this year may have dreams of foreign holidays and a life of active leisure, the reality for many is that life on a pension will bring far greater financial constraints than they envisage."

Earlier this week, the Lincoln Financial Group reported that retaining their standard of living was the priority for most people saving for retirement in the UK.

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