Almost three-quarters (71%) of employees say that being financially secure would make them happy in retirement according to new research from NAPF.
Financial security was voted above all other essential ingredients for happiness in retirement, including being in good health (69%), being able to travel (48%) and being surrounded by family and friends (45%).
However, just 34% of people are confident that their pension will give them this financial security. And just 21% women are confident that their pension will give them financial security. And just 21% women are confident that their pension will give them financial security.
NAPF Chief Executive, Joanne Segars, said:
“In the retirement happiness stakes, wealth edges ahead of health
because it lays the foundation for future life after work.
“The challenge for the next decade is closing the gap between what
people want in retirement and how confident they are in getting it,
even more so for women.”
The research is published on the day that TV psychologist and author,
Oliver James, addresses the NAPF’s Investment Conference in
Edinburgh on the key to well-being for pensioners and working
Other from the survey key findings:
When asked how they would spend their retirement about half
of respondents said they would like to travel the world or simply
spend more quality time at home.
About a quarter said they
would spend time helping others – by doing voluntary work or
looking after children.
When asked what they would miss about working when they
retire, they highest scoring responses were “mixing with
colleagues” and “having a secure income”.
One in seven (13%) said the thing they would most miss about
no longer working is getting time away from their partner!
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