Following the release of the ONS report ‘Living longer: is age 70 the new age 65?’ Emma Byron, Managing Director at Legal & General Retail Retirement Income |
The traditional retirement age of 65 no longer represents a ‘hard stop’ in an individual’s working life. However, it would also be a misnomer to simply say that 70 is the new 65.
Retirement today is much more varied and colourful than it used to be. A growing number of retirees are continuing to work well into their 70s, and in some cases even using the freedom of ‘retirement’ to set up their own businesses.[1] Thousands of individuals are also accessing their pensions at 55 and living a vibrant life in their 60s and 70s. Others have dedicated their golden years to caring for loved ones. Simply put, there is no longer a ‘typical’ retirement or retirement age. |
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