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The ‘new retirement’: Britons twice as likely as rest of the world to work past state pension age

by on March 12, 2014

This is the headline to this article in the This is Money website which reports the findings of a Nielsen Global Survey on Ageing.

The Nielsen survey polled 30,000 internet respondents across 60 countries. The article draws attention to a number of differences between those in the UK and other countries:

– The British are more likely to say they will work beyond the current state pension age of 65, with 44% saying they expect this will be the case, compared to just 25% across the rest of the world.
– 19% of Britons say they won’t be able to stop work until they’re at least 70 years old, compared to 12% in the rest of the world.
– 52% of Britons believe they will be financially better off than their parents which is significantly lower than the global average of 70%.

This is summarised by Nielsen’s Eleni Nicholas who is quoted as saying: ‘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.

Is this the ‘new retirement’? Nigel Barlow, of retirement specialists Partnership, is quoted as saying: ‘Nielsen’s research clearly highlights that UK employees are waking up to the reality of the “new retirement” where they will be less able to rely on the state, need to be more self-sufficient and may need to work substantially longer‘. Sounds to me very much part of a neo-liberal discourse.

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