According to new research, a great deal of over 65s in the UK have no idea when they will be able to retire as they continue working past the retirement age.
Conducted by retirement specialists MGM Advantage, the survey revealed that 36 percent of respondents who had recently reached the age of retirement do not plan on retiring in the near future, and actually could not put a time on when they’ll hang up their work gloves.
Of all the respondents, over 50 percent admitted that they are completely unprepared for retirement, and only 24 percent said they had built up a strong pension for income.
People are also making fewer investments and seeking less financial advice.
Craig Fazzini-Jones, director at MGM Advantage, said: “This is further evidence that a growing number of people are sleepwalking into retirement, it’s staggering that so many people aged 55-plus are not at all prepared, with many failing to take even the most basic financial steps
Mr Fazzini-Jones also stressed the importance of financial planning: “We can’t stress strongly enough how important it is to seek advice to ensure people make the best decisions regarding their retirement. People need to be aware of all the options available to them so they can make the most suitable decision regarding their retirement income.”
If you want to make sure that you enjoy a comfortable retirement, speak to a recommended financial adviser today and begin safeguarding your future by working towards a sensible financial plan.