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Rethinking plans
Research from wealth manager Brewin Dolphin found that the pandemic has forced 16 per cent of workers over 55 to change their retirement plans.
More than half said they had had to delay retirement by an average of three years because of the impact on savings and investments on the stock market.
Yet Brewin Dolphin says it is seeing more and more clients turn their back on the traditional hard stop retirement, and many now plan to work part-time, start their own business, or re-train to try something else.
Carla Morris, financial planner at the wealth manager, says: Many of our clients in their 50s are no longer planning to retire completely.