Magic age for retirement calculators is 60, says engage Mutual Assurance

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www.moneynews.co.uk > Retirement calculator > Magic age for retirement calculators is 60, says engage Mutual Assurance

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Magic age for retirement calculators is 60, says engage Mutual Assurance

A source from engage Mutual Assurance has suggested most people want to retire at the age of 60, but the firm claimed they are probably going to have to work for longer.

The company pointed out the "golden age" experienced by individuals when they finish their working life is likely to arrive much later.

However, a spokesperson for the firm noted that people will also be living longer, so it is not all bad news.

They said a man and woman who are currently 65 years old can expect to live to over 82 and 85 respectively.

A study by engage Mutual Assurance showed 40 per cent of adults would like to be able to retire at 60.

"It's a number many of us can only dream of in light of planned changes to raise the retirement age to 66 for both men and women born after 1954," the spokesperson added.

The company recently announced the appointment of David Robinson, who was previously the founder and chief executive of Bright Grey, as a non-executive director.

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