Reluctant retirement among women, study suggests

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Financial Services > Pensions > News

Reluctant retirement among women, study suggests

Thu, 23 Feb 2006

The majority of women are seemingly not interested in an early retirement, new research by a financial protection company suggests.

In its Retirement Scope survey, AXA found that only a third of women want to retire early, while 52 per cent of men would like to reach retirement age earlier.

Female workers were also found to be more reluctant than men to give up working in exchange for a life of leisure.

Women also showed more support for a higher retirement age, AXA's survey reveals.

Commenting on the findings, Steve Folkard of AXA said female employees "have work opportunities like never before in the modern world of work".

"It therefore makes sense that female workers would be more reluctant to give up the daily grind – despite the obvious appeal of an early retirement," he explains.

The Retirement Scope survey also found that British workers are starting to save money towards retirement pension at an earlier age than any of their European counterparts.

Starting at the age of 28, those saving money set aside an average amount of £249 a month towards their retirement pension savings, AXA found.

Mr Folkard described this trend as "encouraging" and added that one "can never start planning too early" for retirement pension.

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