November 1, 2011
Middle class workers aged 50 and above are being forced to delay their retirement until they are ‘at least 70’, with many blaming their children, a report revealed yesterday.
It said their retirement dreams are being crushed with most postponing their retirement date by around five years.
The report, from the investment firm Heartwood, said the delay is ‘not driven by a love of their job, but by concerns of their ability to fund their retirement’.
It is not just the soaring cost of living which is triggering the delay. Many blame the fact that they are constantly having to bail out their grown-up children at an age when they presumed they would be financially independent.