2005
(06/03/05) Research reveals almost a quarter of UK pensioners are enjoying the 'best years' of their lives
- World survey ranks British pensioners as fourth most positive when it comes to attitudes towards retirement
International research from AXA, the global insurance company, reveals that 24% of British retired people believe that only in retirement are they able to enjoy their lives. More than a quarter of respondents said that this is because they finally have time to spend on themselves and on the areas and hobbies that that really interest them.
The research also analysed what role retired people think they should play in society. 92% of British pensioners see themselves as imparting knowledge and advice on life experiences and 87% see themselves as looking after their grandchildren. Seven out of ten believe they should provide financial support to their relatives.
On a global basis, UK retired people have some of the most positive attitudes towards life after work. Overall, 62% of retired people in Britain see their retirement in an enthusiastic light. Of the countries surveyed, only Australia, Canada and New Zealand came higher. On a European basis, the UK tops the league, where in Spain and Portugal for example; only 35% and 27% of retired people respectively have positive attitudes towards their retirement.
| Ranking | Country | Percentage of retired people who feel positive about their retirement |
|---|---|---|
| 1st | Australia | 71% |
| 2nd | Canada | 69% |
| 3rd | New Zealand | 67% |
| 4th | UK | 62% |
| 5th | Germany | 60% |
| 6th | The Netherlands | 57% |
| 7th | USA | 56% |
| 8th | Belgium | 55% |
| 9th | France | 54% |
| 10th | Japan | 46% |
| 11th | Italy | 36% |
| 12th | Spain | 35% |
| 13th | Portugal | 27% |
When it comes to the most popular pursuits amongst Britain's retired population, AXA's research revealed that hobbies (cited by 33% of retired people), gardening and DIY (31%) and hiking / walking (26%) top the list.
Steve Folkard, Head of Pensions Marketing at AXA said: "Despite the growing financial difficulties facing the UK's retired population, the situation appears worse elsewhere around the Western world. Many retired people in the UK seem happy with their lives and keep themselves busy and occupied."
When it comes to attitudes towards retirement amongst the working populations around the world, the UK drops to joint 8th place amongst the countries surveyed. In Belgium, 74% of the working population has a positive attitude toward retirement - the highest of any country surveyed. Belgium is followed by Australia, Canada and New Zealand.
| Ranking | Country | Percentage of people in work who feel positive about life in retirement |
|---|---|---|
| 1st | Belgium | 74% |
| 2nd | Australia | 71% |
| 3rd | New Zealand | 69% |
| 4th | Canada | 68% |
| 5th | France | 66% |
| 6th | Germany | 65% |
| 7th | Italy | 53% |
| 8th | Spain | 52% |
| 8th | UK | 52% |
| 8th | The Netherlands | 52% |
| 11th | USA | 51% |
| 12th | Japan | 45% |
| 13th | Portugal | 34% |
Of the UK working population, the most popular activities people believe they will do when they retire are travel (34% of the retired population), enjoying a hobby (28%) and pursuing a sport (26%).
Steve Folkard continued: "It is clear that today's workers plan to lead an extremely active life in retirement and indeed live some of the best days of their lives. However, our research shows that one in three has yet to start preparing for life after work and unless they begin soon they may have to work beyond 65."
- Ends -
Notes to Editors
The survey was conducted over the phone by NOP from October 11th-31st 2004. A total of 9,200 people were interviewed in 15 countries across the world.
In each country around 300 working people and 300 retired people were interviewed. The only exception was the USA where around 400 working and 400 retired people were questioned.
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AXA is a world leader in financial protection. AXA's operations are diverse with major operations in Western Europe, North America and the Asia/Pacific area. AXA employs 120,000 staff and tied agents and, as of 31 December 2004, had €869 billion in assets under management. Reported total revenues for 2004 were approximately €72 billion. Our previous company performance is not a guide to how we may perform in the future.
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