We use cookies to give you the best personal experience on our website. If you continue to use our site without changing your cookie settings, you agree we may place these cookies on your device. You can change your cookie settings at any time but if you do , you may lose some functionality on our website . More information can be found in our privacy policy.
Please provide more information.
Stylus no longer supports Internet Explorer 7, 8 or 9. Please upgrade to IE 11, Chrome, Safari, Firefox or Edge. This will ensure you have the best possible experience on the site.
Brief Published: 11 Apr 2016

Lifestyles of British Boomers

Less than half of UK Boomers feel they have saved enough for retirement

Just 42% of Britain's over-55s feel they have saved enough for a comfortable retirement, according to a new report from London-based market research group Mintel.

Among those aged 65-74, less than half (47%) feel they have made sufficient provision, and just 34% of those aged 55-64 feel they have saved enough. Other highlights from the report include:

  • Gender Imbalance: Retirement preparedness in the UK differs significantly by gender. While nearly half (48%) of men aged over 55 feel they have made adequate provision for the future, this declines to less than two in five (37%) women of the same age.
  • Longer Working Lives: Almost one in 10 UK retirees say they plan to go back to work or find a job in retirement, rising to 13% of men aged between 55 and 64.
  • Future Fears: Concern over the cost of future care is high, with one-third (34%) of over-55s expressing concern about the future cost for themselves or their partners.

Companies targeting the boomer generation must be aware of rising concerns about financial security among over-55s. However, new attitudes towards retirement mean spending habits could remain robust, with the demographic expressing a keen interest in experiential activities such as travel (46%) or fitness and exercise (33%).

For more insight, read Trailing-Edge Boomers and New Retirees: Boomers Embrace Millennial Values.