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Newsletter

Babyboomers 'planning an active retirement'

By Tom Farley, Fri 2 Jul 2010 - Published in Pensions

The UK's babyboomers do not view retirement in the same way as previous generations, a new survey has found.

A poll of the nation's over-55s by Aviva revealed that 43 per cent of those approaching the end of their working lives view retirement as the start of a new and exciting part of their life.

It showed that 62 per cent intend to improve their health so they can enjoy their retirement for longer, while 23 per cent would like to spend their golden years travelling the globe.

In addition, 49 per cent of over-55s hope to spend more time on their hobbies in retirement, with 60 per cent of these wanting to create an income from such activities.

Clive Bolton, 'at retirement' director for Aviva, commented: "In the run up to retirement, people should think about how they want to spend their days, and in reality, how much this will cost."

Last week, Caledonia Asset Management managing director Gordon Forbes claimed it should be compulsory for people to save into a pension, in order to help them prepare for their future.