ONE in five Britons thinks they will be working until they are at least 70 years old - making them almost twice as likely to have this expectation as workers across Europe - according to a new global report.
Some 19% of Britons predict they will work into their eighth decade of life, compared with an average of 12% of workers in Europe generally, according to a survey of more than 30,000 people in 60 countries by market research company Nielsen.
Some 44% of Britons expect to retire after the age of 65, which is almost double the global average share of people who said this, at 25%.
One in 22 (4.5%) Britons surveyed believe they will still be working at the age of 76 or over.
Almost half (46%) of British workers surveyed said their expected retirement age is later than they would like.
More than one-third (35%) of working Britons expects to be relying on their savings to help them get by in their later years. More than half (52%) feel they will be financially better equipped than their parents for retirement, although this percentage was found to be significantly lower than the global average at 70%.
Nielsen senior vice president for financial services in Europe Eleni Nicholas said: "Britons have a bleaker retirement outlook than people globally; they're almost twice as likely to expect to be working after 65, and a third less likely to believe they'll be financially better off than their parents."
The findings come as the Government's programme to encourage people to start saving or put more money away for their retirement continues to be rolled out.
About 10 million people are expected to be newly saving or saving more as a result of the Government's scheme to automatically enrol people into workplace pensions.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules hereComments are closed on this article