Planning for your retirement can never start too early, especially after the UK workforce experienced an unprecedented period of uncertainty during 18-months of lockdown which saw 11.7 million employees out on furlough leave, at a cost of £70 billion.
However, now that the economy and most industry sectors are finding their financial feet again at the start of 2022, a recent survey of 1,000 people carried out by Opinium on behalf of Hargreaves Lansdown found that over one-third (34%) of people aged 45-54 have no plan in place for their remaining working years.
This compares to roughly a quarter of 35-to-44-year-olds and 25-34-year-olds who had no plan for the time between age 50 and retirement.
Some 42 per cent of those in the 45-54 age group said they planned to continue in their current job and work full-time. A further 10 per cent said they would stay in the same role but move to part-time hours - only five per cent said they planned to stop work completely.
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