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News - 5 September 2003

People can no longer afford to retire

A recent survey has shown that a quarter of older workers have postponed retirement because their pensions would not support them.

Consultants, Watson Wyatt interviewed 4,500 people aged between 50 and 64 and found that one in four had been forced to work longer than they intended because their pensions were worth so little.

More than half the respondents said the value of their nest egg had fallen by a large amount over the last five years, while a further 20% said it had fallen slightly.

For the full report visit the British Chambers of Commerce web site at:

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Watson Wyatt

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