Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

The Great British Retirement Survey 2021

Including Financial Independence and Retiring Early (FIRE)
MyNameIsUrl
Lemon Slice
Posts: 474
Joined: November 4th, 2016, 1:56 pm
Has thanked: 1304 times
Been thanked: 107 times

The Great British Retirement Survey 2021

#450625

Postby MyNameIsUrl » October 16th, 2021, 5:30 pm

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)

Gilgongo
Lemon Slice
Posts: 415
Joined: November 5th, 2016, 6:51 pm
Has thanked: 154 times
Been thanked: 127 times

Re: The Great British Retirement Survey 2021

#454512

Postby Gilgongo » October 31st, 2021, 11:11 am

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. :)

wanderer
2 Lemon pips
Posts: 171
Joined: September 17th, 2017, 2:44 am
Has thanked: 153 times
Been thanked: 105 times

Re: The Great British Retirement Survey 2021

#454521

Postby wanderer » October 31st, 2021, 11:22 am

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.

AsleepInYorkshire
Lemon Half
Posts: 7383
Joined: February 7th, 2017, 9:36 pm
Has thanked: 10514 times
Been thanked: 4659 times

Re: The Great British Retirement Survey 2021

#454525

Postby AsleepInYorkshire » October 31st, 2021, 11:32 am

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

ursaminortaur
Lemon Half
Posts: 6944
Joined: November 4th, 2016, 3:26 pm
Has thanked: 447 times
Been thanked: 1718 times

Re: The Great British Retirement Survey 2021

#454603

Postby ursaminortaur » October 31st, 2021, 2:03 pm

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.


Return to “Retirement Investing (inc FIRE)”

Who is online

Users browsing this forum: No registered users and 14 guests