Tuesday 20 February 2018

Pensioners fail to plan for retiring

Peter Flanagan

Peter Flanagan

THE vast majority of pensioners who retired in 2011 made no preparation for their retirement, even though planning is vital for happiness after work.

The chief executive of a charity focused on retirement planning claims nearly 60,000 people don't prepare for retirement in the two years before they finally quit.

Speaking at the opening of the its new offices, Retirement Planning Council chief executive John Higgins said employers, including the State, needed to ensure retirees were provided with the relevant support services well before they give up work.

"When you look at the ever increasing number of people that are retiring, we need to make certain that we are able to give retirement planning support to as many retirees as is possible.

"Retirement, whether voluntary or compulsory, can be one of the most traumatic and lifestyle-changing events in a person's life.

"Our research found that 84pc of the retiring population -- about 58,100 people -- received no retirement planning support in the two years prior to their retirement."

Irish Independent

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