More than half of the UK’s future retirees expect to work beyond the age of 62 – the average age at which they would like to quit their jobs, according to a new survey. In its latest annual retirement report, Scottish Widows says that they expect to work – against on average – for an extra seven years. Meanwhile an overwhelming majority (84%) of people already in retirement – particularly those in good health with few financial worries.- And only nine per cent feel pessimistic, compared with 34% of those still to retire. The report urges the new Government to set a road map for increased contributions to private pensions from eight per cent to 12% “with a strong steer that those who can afford 15% should do so. It also calls for reforms to automatic enrolment, including lowering the contribution age.
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