26% of people who have given up work in the last 10 years say they are fitter and healthier since they stopped working, according to new research from Prudential.
48% say they are busier and more active than they anticipated and 35% say they have more time to make their life more adventurous than they could have hoped while they were still at work.
When asked how else their experience of retirement was exceeding their expectations, many of those who have become pensioners in the last 10 years pointed to improvements in their relationships. 26% believe they now get on better with their partner while 25% think that their relationship with their family is happier since stopping work. Meanwhile, 23% say their social life has improved more than they expected.
The release of the new figures marks the 10th anniversary of Prudential’s annual Class of… research into the financial plans and aspirations of people planning to retire in the year ahead, and is based on interviews with a cross section of people who have retired in the 10 years since the Class of 2008 gave up work.
Many of those interviewed are from the last group of retirees where the majority will benefit from generous final salary pensions, reflected in the 63% who – described their financial situation as comfortable or well off.
Kirsty Anderson, a retirement spokesperson at Prudential, said: “Over the last 10 years we’ve studied the finances, plans and aspirations of people as they reach retirement, so it’s really good to now find out that for many people retirement has provided them with a new lease of life.
“And as people who plan to finish work in the next ten years begin to look forward to their retirement there’s plenty they can still do to make sure they are as comfortable as the people who have become pensioners over the last decade. Most importantly, in the face of changing pension rules, many people will benefit from a consultation with a professional financial adviser in the run up to retirement.
“Retirement will continue to change over the coming years but for many people the desire to make the most of their new-found free time will remain. Even for those planning to be a Class of 2027 retiree the best approach remains the same as it was for our pensioners who gave up work back in 2008 – save as much as possible for as long as possible during your working life.”
86% of those who gave up work in the last 10 years said that it had met their expectations or they were happy with how it had panned out so far, while only one in eight (13%) said that it has been a disappointment.
37% thought they would have missed work more than they have since retiring, and 26% wish they had retired earlier.