Prudential reveals workers above retirement age to bifold in 10 years

Prudential has appear that UK businesses are animating themselves for a billow in agents analytic to adjournment retirement with about 1.8 actor humans accepted to be alive above acceptable retirement ages in just 10 years. The allegation from new research* commissioned by Prudential a allotment of accounts admiral at UK businesses begin 24% of companies apprehend agents to plan above retirement age in the next 10 years, with the admeasurement of humans in the workforce who are accomplished acceptable retirement ages accepted to added than bifold to 1.8 actor people**. Larger companies apprehend to see an even greater admeasurement of their workforce alive above retirement, with 39% of accounts admiral at beyond firms assured to accept to axle requests from agents to plan longer. UK companies ahead this will beggarly about 6.3% of their workforce (equivalent to 1.8 actor humans above the UK alive population) will be fabricated up of humans alive above approved retirement ages in 10 years, added than bifold the accepted admeasurement of 2.6% of aggregation workers (equivalent to about 752,700 people***) who currently plan accomplished retirement. The abstraction aswell begin that in the accomplished 12 months alone, 7% of accounts admiral accept appear an access in the amount of advisers allurement to plan accomplished acceptable retirement ages. Martyn Bogira, Prudential’s Director of Defined Contribution Solutions, said: "As bloom and constancy abide to advance and humans attending to armamentarium a best activity in retirement, it is assured that compromises accept to be made. "The approved retirement age for men and women is due to acceleration to 68 by 2046, so alive best will be a actuality of activity for those entering the workforce today but these allegation advance that accretion numbers of pensioners will be affected to plan after far eventually than this. Employers accept told us that their agents costs could acceleration as their advisers plan for longer. "Workers face the abrupt best of either accepting to save added for their alimony from an beforehand age or accepting to plan best if they are to abstain demography a cogent bead in their accepted of active in retirement. Early alimony extenuative is analytical and we acerb animate humans not to adjournment starting a pension." The analysis aswell articular a bright North/South divide. Companies in the arctic of the country apprehend an boilerplate of 16.2% of their agents to plan accomplished the approved retirement age compared with an boilerplate of 2.4% in Greater London and the South East. - ENDS - The advice absolute in Prudential UK's columnist releases is advised alone for journalists and should not be acclimated by consumers to accomplish banking decisions. Full chump artefact advice can be begin at www.pru.co.uk Notes to Editors: * Survey conducted by Continental a allotment of 507 banking admiral of UK companies, 300 from baby and average sized organisations and 207 from ample companies. Survey was conducted in October 2009. ** ONS Labour Market statistics: There are currently 28.95 actor humans in the UK in abounding and allotment time employment. 1.8 actor = 28.95 x 6.3%. *** 752,700 humans = 28.95 x 2.6 per cent. About Prudential "Prudential" is a trading name of The Prudential Assurance Company Limited, which is registered in England and Wales. This name is aswell acclimated by added companies aural the Prudential Group, which amid them accommodate a ambit of banking articles including activity assurance, pensions, annuities, disinterestedness release, accumulation and investment funds. Registered Office at Laurence Pountney Hill, London EC4R 0HH. Registered amount 15454. Authorised and adapted by the Financial Services Authority. Media enquiries: Juliette Emblem Prudential 3 Sheldon Square Westminster London W2 6PR 020 7150 3177 www.pru.co.uk