A recent global survey on the future of retirement and peoples attitudes to ageing from HSBC, has found that traditional attitudes are outdated, and that older people want to remain self-sufficient after they finish working.
The majority of people see retirement as the opportunity to start a new phase in their lives and remain active. In the UK, 56% saw this as a new start, with many preferring to spend the time mixing work and leisure, instead of relaxation only.
People polled said that they would like to see a more flexible attitude from employers about mandatory retirement, with 72% saying that they would like to see this abolished.
When asked who should pay for retirement, 55% of UK respondents, compared to 43% globally, said that it was the individuals' responsibility to fund the cost. The survey also found that 36% of people worldwide supports a compulsory savings plan to fund their retirement, compared to raising taxes or the minimum retirement age.
Our view
Live life 'to the max'. But you have to have saved enough to enable you to have such a choice.