Ideal retirement age revealed, as survey shows future plans are changing for many of us

According to a recent survey by iReach for Royal London Ireland, nearly three-quarters of the nation's workforce desires early retirement, with significant preference for retiring at age 50 or 60. While 11% of those over 55 never want to retire, only 15% prefer the state's pension age of 66. The desire for early retirement is notably increasing, transitioning attitudes about work and retirement. Additionally, only 6% are willing to work until 70, indicating a strong preference against extending work life beyond necessary, especially among those nearing retirement age.

The survey indicates that while many wish to retire early, a notable 11% of those over 55 do not want to retire at all, reflecting diverse retirement aspirations.

Actuaries advise that working beyond 66 may not yield sufficient increase in pension benefits, leading individuals to reconsider their retirement plans.

Read at Irish Independent