A ‘carriage clock’ retirement where people stop working and rely solely on their pension is no longer an option, with 52 per cent of the UK expectant retirees anticipating that their financial situation will not support their desired lifestyle.

According to a poll of over 4,000 people, over half of the UK adults do not expect their finances to support their desired retirement.  As a result, 39 per cent said they would work part-time, 27 per cent said they would downsize their property and 24 per cent said they would rely on inheritance from family and friends to support them financially.

Moreover, following the government’s decision to bring forward the rise in the state pension age, the research found 52 per cent of UK adults who are not yet retired admitted that they were unclear as to what age they will start receiving the benefit.  A further 18 per cent of non-retired people aged 55 plus said that they didn’t know what age they would receive the state pension and over half, 55 per cent of this group said they did not know what the full state pension weekly rate currently is.

People seemed to be planning for a phased retirement, where they choose to work part-time.  Most worryingly, these “precarious pensioners” are not solely the generations of the future, but include those over 55, many of whom may be unprepared, financially, for imminent retirement.


Planning for Retirement is an excellent course that we offer to our employees. The NDPRC have provided this course for us for many years and we have always been very pleased with the quality of the course and helpfulness of the course administrators. Local public sector Employer