55-page pdf from Interactive Investor ii.co.uk:
https://media-prod.ii.co.uk/s3fs-public ... y_2021.pdf
may be of interest to some, based on a survey of over 10000 respondents online
(thanks to monevator.com)
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The Great British Retirement Survey 2021
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- Lemon Slice
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- Lemon Slice
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Re: The Great British Retirement Survey 2021
p.24: 38% of non-retired respondents said that "Defined benefit / Final salary pension" would be their main source of retirement income.
Really? That's a surprisingly high figure. I thought hardly anyone these days had those pensions. Maybe I should get out from under my rock!
Here's a clue on p.33 though: 21% (largest single cohort) say they think they will have at least £1M to retire on. OK, I see.
Really? That's a surprisingly high figure. I thought hardly anyone these days had those pensions. Maybe I should get out from under my rock!
Here's a clue on p.33 though: 21% (largest single cohort) say they think they will have at least £1M to retire on. OK, I see.
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- 2 Lemon pips
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Re: The Great British Retirement Survey 2021
Around 40% of GDP is taken up with government spending and therefore supporting public sector employment and defined benefit pensions, so perhaps that's why so many people stand to benefit from such arrangements.
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- Lemon Half
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Re: The Great British Retirement Survey 2021
Gilgongo wrote:p.24: 38% of non-retired respondents said that "Defined benefit / Final salary pension" would be their main source of retirement income.
Really? That's a surprisingly high figure. I thought hardly anyone these days had those pensions. Maybe I should get out from under my rock!
Here's a clue on p.33 though: 21% (largest single cohort) say they think they will have at least £1M to retire on. OK, I see.
If I recall correctly roughly half our GDP is from public services, suggesting a significant numbers of our workforce are employed within that sector. I'd guess - and it is a guess - that these make up a significant proportion of that 38%.
AiY
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- Lemon Half
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Re: The Great British Retirement Survey 2021
AsleepInYorkshire wrote:Gilgongo wrote:p.24: 38% of non-retired respondents said that "Defined benefit / Final salary pension" would be their main source of retirement income.
Really? That's a surprisingly high figure. I thought hardly anyone these days had those pensions. Maybe I should get out from under my rock!
Here's a clue on p.33 though: 21% (largest single cohort) say they think they will have at least £1M to retire on. OK, I see.
If I recall correctly roughly half our GDP is from public services, suggesting a significant numbers of our workforce are employed within that sector. I'd guess - and it is a guess - that these make up a significant proportion of that 38%.
AiY
https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorpersonnel/bulletins/publicsectoremployment/march2019
16.5% of all people in paid work were employed in the public sector for March 2019, an increase of 0.1 percentage points on December 2018.
And the average pension across the four largest public sector pay as you go schemes schemes is £10,000 per year
https://www.nao.org.uk/wp-content/uploads/2021/03/Public-service-pensions.pdf
On average, pensioners across the four pay-as-you-go schemes received an annual pension of around £10,000 in 2019-20,
up from £8,650 in 1999-2000.
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