The Great British Retirement Survey 2021

[MyNameIsUrl]

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]

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]

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]

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]

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/employmentandlab ... /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/uploa ... nsions.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.