- About a third said they retired early because they could afford to
- Illness, stress and redundancy are common reasons for people retiring early
- One in four retirees say they retired at least five years earlier than planned
Results from our survey told us that millions of people have in fact retired earlier than they had planned to. We found that nearly a third (31%) retired because they could afford to, with the next most common reason being because they simply didn’t want to work anymore. Other reasons for taking earlier retirement were ill health, injury and stress, as well as being made redundant or needing to care for a partner in poor health.
One in four (3m) even said that they’d stopped working at least five years early, with men more likely to have done this than women, but worryingly 30% (4m) of all retirees said they weren’t in a good financial position when they stopped working.