Three in ten furloughed workers plan to retire later

Younger savers are more likely to have altered their retirement plans

James Phillips
clock • 1 min read
Some were forced to access pension savings to get through furlough
Image:

Some were forced to access pension savings to get through furlough

Nearly half of workers who were furloughed during the pandemic have changed their retirement plans, according to Canada Life research.

The survey of 500 furloughed adults, conducted between 20 August and 6 September, found that nearly three in ten (28%) to plan to retire later, while 18% have decided to bring the date forward. ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Join now

 

Already a Professional Pensions
member?

Login

James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

More on Defined Contribution

PPI calls for 'new approach' to Gen Z retirement planning

PPI calls for 'new approach' to Gen Z retirement planning

PPI report commissioned by IFoA looks at challenges the generation faces in retirement

Jasmine Urquhart
clock 26 February 2025 • 3 min read
Partner Insight: Why more support is needed to help avoid retirement savings shortfall

Partner Insight: Why more support is needed to help avoid retirement savings shortfall

With some retirees facing nearly a decade of unfunded retirement, Jayesh Patel - Head of DC Clients at Legal & General - discusses how to help savers better plan for the duration of their retirement years.

Average pension transfer times fell during 2024 while values grew

Average pension transfer times fell during 2024 while values grew

Origo data shows overall pension transfer times took 12.3 days to complete last year

Martin Richmond
clock 24 February 2025 • 2 min read
Trustpilot