AXA Insurance: Workers can look forward to an active retirement

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AXA Insurance: Workers can look forward to an active retirement

Fri 1st Feb 2008

Insurance firm AXA has found that retirees can look forward to an average of 18 "happy years" between when they retire and when they consider themselves 'old'.

AXA commissioned the study to examine the attitudes towards retirement among workers and retired persons.

They found that while most workers think that they will be retiring at around 62 and consider themselves 'old' at 72, retirees actually tended to leave work at 60 and did not feel 'old' until they were 78.

The financial outlook of workers and retirees also differed - just over half of all workers thought they would have enough to live on in retirement, but almost two in three retired persons said their current retirement income is sufficient.

Steven Folkard, head of pensions and savings policy at AXA, said that retirement is now "generally seen as a new, golden era … For people in Britain in or approaching retirement, they have never had it so good".

The research also showed that many British retirees enjoy retirement, with 40 per cent saying they are "very happy" compared to 32 per cent of people currently in work.

Recently, the chief executive officer of AXA called for more flexible retirement solutions to be introduced.

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