13% of UK adults never plan on retiring, new survey suggests

Sep 14, 2023

New research by Canada Life reveals that 13% of UK adults not currently retired do not plan on ever giving up work.

One in ten Brits have also never thought about planning for retirement and do not plan on doing so, the survey of 2,000 UK adults found.

Meanwhile, 19% of those aged 55 and over have no retirement plans in place, while a further 45% claim their plans lack detail.

On the flip side, 35% of retirees wish they had planned for their retirement more thoroughly in advance.

This may be due to the cost-of-living crisis, with 34% of people's retirement plans changed as a consequence of the ongoing struggles.

Tom Evans, managing director of retirement at Canada Life said:

"The old adage ‘fail to prepare and prepare to fail' absolutely applies when it comes to planning for retirement. Worryingly, our research shows that many people are adopting a ‘bury your head in the sand' mentality.

"Retirement may feel like a lifetime away, but the sooner you plan, the more empowered you will feel when it comes to your financial future. No matter what age you are, a financial adviser can be invaluable in helping you to plan for and achieve your ideal retirement."

Talk to us about your retirement plans.