Scottish Pensioners Enjoy Longest Retirement

New research has shown that Scots enjoy a longer retirement than their counterparts in England and Wales.

According to research, by Club Vita found that although Scots have the lowest life expectancy in the UK, they spend the most time in retirement.  The research found that on average Scots spend 17.9 years in retirement, more than those in England (17.7 years) and the 15 years enjoyed by Welsh.

The average expected retirement age is 65.4 for Scotland, 67.1 for England and 69.3 for Wales.

Retirement Age

Despite some arguments based on life expectancy, the retirement age in Scotland, and the rest of the UK is to rise to 66 by 2020.

Douglas Anderson, a partner at Hymans Robertson and part of the team that carried out the research said: “There is a false perception that Scots have less time in retirement, which is why those north of the border make a lifestyle choice to retire earlier.

“In contrast those in the South East and South West of England have adjusted their expectations and are retiring later because they expect to live longer.”

The South West proved to be the most popular area to settle down and retire.

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The retirement age highlights the importance of pension planning and other aspects of planning for the future such as wills. If you require any advice regarding pensions or services for the elderly, contact us today using our online contact form.