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

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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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