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Abbey reveals Brits’ retirement saving plans

A research conducted by Abbey Savings revealed that 44% of retirement savers in Britain are planning a trip around the world when they retire and a further 17% are building up their pension pot to pay for some form of unique experience.

The research also revealed that Brits are planning using their savings to live it up in their retirement. 25% of Brits are planning on taking up a new sport or other active pursuit and 11% would like to take up the guitar or another musical instrument when they retire. A further 1.8 million people would like to experience an extreme sport and 1.7 million people are keen on taking up flying lessons in their retirement.

The Abbey study also shows that only 48% of retired people have actually saved up enough to do everything they wanted to do in their retirement. And a staggering 61% of those who are not yet retired believe that they will not have saved up enough money to do what they want to do by the time they retire.

Reza Attar-Zadeh, Abbey’s head of savings, said: Clearly Brits are enjoying their retirement, but it’s sad to know that a significant number of retired people didn’t save up enough to fulfill their retirement dreams and that over 60% of us don’t think we’ll have enough savings to enjoy our retirement fully. We all need to think carefully about our retirement and make sure we’re saving up enough money every month to fully enjoy the autumn and winter of our lives.