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Retirement is "exciting" for baby-boomers
14.08.2008
Far from being a time to slow down, retirement is an "exciting" prospect for Britain's baby-boomers, according to a new report.
A survey carried out by AEGON found just 29 per cent of 50 to 65-year-olds anticipate stopping working when they reach retirement age, while 12 per cent said they hope to embark on a completely new career.
However, the firm raised concern over how retirees are planning to finance this period of their lives, as fewer than 15 per cent of respondents said their pensions would produce an income of £15,000 a year.
Rachel Vahey, head of pensions development at AEGON, said if people plan to make "adventurous life choices" they need to "plan carefully".
"The good news is there are more products and solutions available now to complement people's changing lifestyles. So making the right choices is more important than ever," she stated.
Earlier this month, Julie Mulvanny, head of business development for individual pensions at Prudential, warned that given current financial pressures people may find it "easy" to stop making payments into their pensions.
A survey carried out by AEGON found just 29 per cent of 50 to 65-year-olds anticipate stopping working when they reach retirement age, while 12 per cent said they hope to embark on a completely new career.
However, the firm raised concern over how retirees are planning to finance this period of their lives, as fewer than 15 per cent of respondents said their pensions would produce an income of £15,000 a year.
Rachel Vahey, head of pensions development at AEGON, said if people plan to make "adventurous life choices" they need to "plan carefully".
"The good news is there are more products and solutions available now to complement people's changing lifestyles. So making the right choices is more important than ever," she stated.
Earlier this month, Julie Mulvanny, head of business development for individual pensions at Prudential, warned that given current financial pressures people may find it "easy" to stop making payments into their pensions.