16 August 2012 10:30
Around one in 10 British workers do not plan to retire at all, a study has suggested.
Nearly two fifths (38%) of those surveyed said they have no idea when they will be able to stop working, while 12% said they do not envisage retiring at all, research from Baring Asset Management found.
The biggest proportion of those who said they "don't plan to retire" live in Wales and the South West, while those living in Scotland were the least likely to say this.
The study also found a significant increase in uncertainty among people who are approaching retirement age, in the 55- to 64-year-old age bracket.
When another survey was carried out last year, 30% of people in that age bracket were unable to pinpoint the exact age at which they will retire, a share which increased to 44% in this year's study.
Researchers said the findings were a "stark contrast" to a similar study carried out in 2008, when all of those who took part were confident that they would eventually be able to retire and just 1% said they were unsure exactly when they would be able to do this.
The research comes ahead of the Government's scheme to automatically enrol up to 10 million people into workplace pension schemes, starting in October with larger companies.