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08-Apr-08 11:15 [Research]
Britons entering retirement 'unprepared' British people are entering into retirement unprepared financially and mentally, according to a new report.
Research from the Department of Work and Pensions (DWP) has revealed that a quarter of people going into retirement in the UK feel sad, anxious or lost.
Pensions minister Mike O'Brien said: "Many of today's older workers are rejecting the cliff edge between work and retirement in favour of a gradual step down. And employers should help them to do this. Women's state pension age is moving but you don't have to retire at this date."
He added that people have "time to plan" and they may be "surprised" by the choices that they have.
According to the government research one of the biggest things people miss after they retire is getting out of the house, while one of the things they do not miss is office politics.
The DWP promotes opportunities and independence through its services.
The last 12 months have proven to be a very painful time for pension funds in Ireland, according to an investment consultant service's research this week.
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In response to a worsening situation on the high street, major retailer Marks & Spencer (M&S) has announced 1,200 job cuts and big changes to the current final salary pension scheme they offer.
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The value of the hours of unpaid overtime in the UK is £26.9 billion, according to the Trades Union Congress (TUC).
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