Many Brits have no idea when they’ll retire

August 1st, 2011 - 10:52 pm ICT by IANS  

London, Aug 1 (IANS) A large number of working people in Britain may be simply sleep walking into retired life without realising when it’s happening in their life, a survey has indicated.

The survey has found the number of people aged over 65 who are literally clueless about when they will be able to retire from work has quadrupled over the last year, Daily Mail reported.

Craig Fazzini-Jones, a director at retirement income specialists MGM Advantage, which carried out the survey, said: “This is further evidence that a growing number of people are sleepwalking into retirement.

“While those who are some way off retiring may be forgiven, it’s staggering that so many people aged 55-plus are not at all prepared, with many failing to take even the most basic financial steps.

“It is particularly distressing that a third of people over 65 claim not to know when they will retire.”

London, which has the highest living costs in Britain, had the greatest proportion who didn’t know when they expected to retire - 50 percent.

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