Britain Coronavirus pandemic reports Britain

Coronavirus pandemic forces nearly fifth of Brits to spend their retirement funds early

dailyrecord.co.uk

retirement age have been forced to delay their plans due to the coronavirus pandemic, according to a new report from British Seniors.The State of Retirement Report, released by the insurance specialist, found that Covid-19 was considered Brit’s biggest threat to retirement, with more than three quarters (77%) of those aged over 50 believing it will directly impact their ability to retire.Covering a wide range of issues and disparities in the retirement landscape, the British Seniors report highlights the widespread impact that both coronavirus and longer-term economic challenges have had on the next generation of retirees.The report revealed that nearly one in five (17%) of over 50s have needed to dip into their retirement savings early due.

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