Retirement Is Better Than Most Pensioners Hoped For

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Pensioners who have given up work in the past decade are reporting that they are enjoying life and feel financially well-off.

More than a quarter (26%) consider they are in better health than when they were working.

Many also feel that their relationships with their partners and families have improved.

Two-thirds have no financial worries and 90% confirm they are happy with their retirement.

But nearly half (48%) claim they are busier now than they were with working and have no intention of winding things down just yet.

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And a daring third have spiced up their lives by making their lives more adventurous than they could have dreamed of while they were still working.

Relationships have got better

A quarter told researchers for financial firm Prudential that they get on better with their partners, while a similar number claimed their social lives had improved as well.

The report explained that this age group would be among the last to retire with generous final salary pensions offering a guaranteed retirement income and inflation-linked increases each year.

Kirsty Anderson, a retirement expert at Prudential, said: “Over the last 10 years we’ve studied the finances, plans and aspirations of people as they reach retirement, so it’s really good to now find out that for many people retirement has provided them with a new lease of life.

“And as people who plan to finish work in the next 10 years begin to look forward to their retirement there’s plenty they can still do to make sure they are as comfortable as the people who have become pensioners over the last decade.

Quarter wish they had retired sooner

“Retirement will continue to change over the coming years but for many people the desire to make the most of their new-found free time will remain. The best approach remains the same as it was for our pensioners who gave up work back in 2008 – save as much as possible for as long as possible during your working life.”

Some retirees would have been happier if they had approached retirement differently, said the survey.

Nearly two-fifths thought they would have missed work more than they have since retiring, and a quarter wish they had retired earlier. One in 10 wish they had been more active or found a job in the early years of their retirement.

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