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38% of UK executives looking to retire early

UK senior executives are more likely to want to retire early than their counterparts in any other European country, according to research by logistics firm UPS.

Its 12th annual Europe Business Monitor survey of UK business leaders shows that 38 per cent plan to retire early, with a further 32 per cent saying they would like to get out early but will probably have to continue working.

The findings of the survey of 1,452 senior business leaders come after the Pensions Green Paper pointed strongly to people working longer to be able to afford to retire.

Only one in 10 respondents plans to work beyond age 65. The survey also reveals that 59 per cent believe employers should allow their staff to work beyond retirement.

Forty-three per cent believe the Government should increase the basic state pension.

Early retirement is not in favour elsewhere in Europe, with only 5 per cent of Italian, 7 per cent of Spanish and 10 per cent of French business leaders saying they plan to retire early.

Thirty-four per cent of Italian senior executives – more than three times the rate for UK executives -plan to continue working after retirement.

The surveys was conducted in September and October by Taylor Nelson Sofres on behalf of UPS.

UPS business development director Neil Taylor says: “This year&#39s UPS Europe Business Monitor reveals that pension provision and retirement ages are increasingly important issues to business leaders across Europe.”

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