71% of workers believe they will be ‘worse off’ in retirement

Wednesday, July 04, 2012

71% of workers believe they will be ‘worse off’ in retirement

Seventy-one per cent of workers believe that they will be worse off in their retirement than current retirees, according to the 2012 Retirement Readiness Survey conducted by AEGON.

The international survey of 9000 respondents in nine countries - France, Germany, Hungary, the Netherlands, Poland, Spain, Sweden, the United Kingdom and the United States, found that while 70 per cent described themselves as 'responsible' when it came to saving for their retirement, only 15 per cent felt that they would be able to put aside enough money to reach the income they needed.

With this in mind, as well as a recent survey which found the UK is one of the loneliest places in Europe to grow old, many retirees will be looking to stretch their pensions further with a move overseas.

Danny Silver, French property expert, believes that a French relocation could be the answer.

“The French way of life is second to none, offering less expensive housing, a relaxed pace of life and cheaper living costs. The nation is completely respectful of the elderly and this is why we decided to develop our active Living Villages for over 50's here offering a range of amenities and services including a gym, indoor pools and entertainment but also a strong community of friends where it'll be impossible to feel alone," he commented.

A recent OECD Better Life Index 2012 which compares global well being across different countries, found that France was one of the happiest places in Europe. Seventy-three per cent of people explained that they have more positive experiences in an average day (feelings of rest, pride in accomplishment) than negative ones (worry, sadness, boredom). Life expectancy in France is almost 81 years, while 91 per cent of people say that they are happy with their current housing situation - higher than the OECD average of 87 per cent.

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