TWICE AS many men as women would give up working today if they could.
That’s according to new figures from Royal London Ireland, who also found that most Irish people would like to retire once they reach 60 years old.
As many as 36 per cent of the 900 people surveyed said they would like to retire at 60, while 21 per cent said they would retire at 50, if they could afford to.
One in five people said that if money wasn’t a concern, they would stop working today.
Twice as many men chose that option, with 24 per cent of men opting to retire today if money was no object, compared to just 12 per cent of women.
The amount of people aged 18-24 who said they would give up working today if money allowed was higher than any other age group, with 25 per cent saying they would, compared to 16 per cent of those aged between 45 and 54 and 12 per cent in those aged 55 and over.
One in 12 people said they would prefer to never fully retire, with more over-55s feeling that way than the national average.
Commenting on the survey findings, Mark Reilly, Pension Proposition Lead with Royal London Ireland said: “Retiring at 60 was the most preferred option – with 36 per cent of respondents saying that they believe this to be the ideal. But what was really interesting to see was that while people often joke of being able to retire early – the truth is, it’s not for everyone.”
Mr Reilly continued: “Just one in five (21 per cent) would choose to retire at 50 if it was available to them. And one in twelve (8 per cent) say they never want to fully retire. This shows that there is a cohort of society for whom the ability to continue to work beyond the traditional retirement age is hugely important.”
“There can be a lot of hours to fill when you retire so for many people, work gives them a sense of purpose and identity, as well as a daily routine – all of which can be lost at retirement unless adequate preparation is put in,” he concluded.
