Full State Pension during retirement means you need to work this number of years

dailyrecord.co.uk:

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 resulted in a staggering 11.7 million employees put on furlough.

Now that the economy and industry sectors are bouncing back, a recent survey of 1,000 people carried out by Opinium on behalf of Hargreaves Lansdown found that over one-third (34%) of workers aged between 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.Commenting on the research, Helen Morrissey, senior pensions and retirement analyst at Hargreaves Lansdown, said: “These findings point to a worrying lack of planning among those closest to retirement on how they plan to spend their remaining working years. "The pandemic may well have played a part in this with the economic upheaval potentially causing chaos for people’s retirement planning with many older workers retiring early after being made redundant." She continued: "There’s also the chance that the investment market volatility we saw earlier in the pandemic has had an impact on people’s pensions causing them to put off their plans for retirement a while longer. “Easing into retirement by working part time is often a better way of managing such a huge change from a financial and emotional wellbeing perspective.” Whi