Retirees 'worried about more than money'

By Tom Farley, Wed 11 Aug 2010 - Published in Pensions

New research has highlighted psychological stresses facing those recently retired from work.

A study published by Scottish Widows found that 30 per cent of retirees are concerned that they will not have enough money to enjoy their golden years to the full.

The research also showed that 23 per cent find it a challenge to cope without the routine and structure which comes with working, while 17 per cent are worried about their health.

In addition, 16 per cent enjoyed their job to the point where they did not want to retire and 15 per cent think they will have less of a social life after leaving the workplace.

Alison Morris, savings expert at Scottish Widows, said: "It is not just the financial shift that people have to prepare for when they retire, but the lifestyle change that comes with it."

Recently, the National Association of Pension Funds called on the government to delay the increase in the state pension age for men to 66 from its currently-planned 2016 to 2020.

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