UK workers are coming to the realisation they will have to work longer than they originally wanted according to a new survey looking at people's attitudes towards pensions and retirement.
The new survey, produced quarterly by the International Institute of Banking & Financial Services, shows that on average, people want to retire when they are 56 years old, but do not expect to until the age of 62.
The survey shows that age has a significant impact on when people plan to retire, with older people preferring to stay in work longer. People aged between 55-64 would like to retire at an average age of 62, while people in the 25-34 age group want to retire at just over 53.
The IIBFS survey also tackles pension provisions. Of the people not yet retired, 45% expect a full state pension, 14% expect a part pension, and 35% did not know.