Retirees worry they will outlive their pension pots

James Phillips
clock • 1 min read

A quarter of retirees do not believe they have a large enough nest egg to fund their retirement, research has revealed.

The problem is most apparent among those aged over 50 who have not yet retired with nearly half (47%) of the 27,896 in this category worried their pension will not last until they die, and half believe they do not have enough capital in total.

The findings came from the SunLife's Big 50 survey of 50,000 people aged over 50, which also found that money was the largest concern for 28% of respondents. For those still working, money was named as the primary concern for 38%.

The insurer's director of marketing Ian Atkinson said the concern lies in now-retired people believing they may have stopped working too early.

"Our research shows that the vast majority of retired people think they retired too early," he said. "While there could be many reasons why they feel this way, our research suggests that money is the main issue as a third are now concerned their money will run out before they die."

SunLife said the research demonstrates why one in seven people aged 66 or older are still working, and why 1 in 20 over-50s have started their own business.

"Millions of retires are currently earning extra cash in a range of different ways," Atkinson continued. "Such as selling things on eBay and renting out property, to private tutoring, exam invigilating and working for the elections officers."

Research by Royal London published last month predicted that savers in defined contribution (DC) funds would run out of money within 25 years on an average drawdown rate of 6.2%.

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Defined Contribution

What can the UK learn from the Australian pension system?

What can the UK learn from the Australian pension system?

Gregg McClymont says attention to differences as well as similarities is important

Gregg McClymont
clock 17 December 2025 • 3 min read
SPP: Making retirement choices simpler and safer

SPP: Making retirement choices simpler and safer

Anish Rav says initiatives that help achieve a better outcome in retirement are welcome

Anish Rav
clock 17 December 2025 • 3 min read
DC schemes delivering 12% value from contributions of 8%, LCP finds

DC schemes delivering 12% value from contributions of 8%, LCP finds

Consultancy finds minimum of £15bn could be invested in private markets by 2030

Martin Richmond
clock 16 December 2025 • 2 min read
Trustpilot