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Europe faces up to a longer wait until retirement

More than half of Europeans believe they will have to delay their retirement because of the current economic climate, according to Aon Consulting, the leading employee risk and benefits management firm. French and German workers are the most pessimistic, with 74% and 73% thinking about extending their working careers respectively, followed by the Irish (65%), the Swiss (67%) and the British (60%). Of those who believe the economic situation will force them to delay retirement, the Irish and the British have the gloomiest outlook with nearly 90% and more than 80% of workers respectively saying they think they will have to delay retirement by over two years.

This research is part of the Aon Consulting European Employee Benefits Benchmark, a survey of more than 7,500 workers from across Belgium, Denmark, France, Germany, Ireland, The Netherlands, Norway, Spain, Switzerland and the UK, ten of the leading economies in Europe. The Benchmark focuses on the views of workers across Europe on topics such as retirement, employee benefits and other pension-related issues.

Right across the region, except in Ireland, females are more likely than their male colleagues to claim they will have to delay retirement. In many cases, this could be attributed to the fact that women are more likely to have lower pensions as a result of either spending less time in the workforce or having a part-time job. The effect of the financial crisis becomes even more pronounced in this type of situation. 

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Europe faces up to a longer wait until retirement
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