Aon-DC and Financial Wellbeing Global Employee Survey

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Page 13 of 23

Ideas about what 'retirement' means are changing, and most employees will need flexible income options that can cope with new working patterns and expectations. Working until age 65 and then retiring is a thing of the past. Workers expect more flexible transitions from full-time work to retirement. Working part- time, working into their 70s, or not retiring at all may become increasingly common. How will this change the way people plan their retirement incomes? How can we persuade them to plan at all? Around 60% of employees expect to retire fully at what we might consider traditional retirement ages – from age 62 to age 70. Approximately 18% think they will retire sooner. A surprising number – 17% – are expecting never to retire fully (this is even higher in the US, at 22%). Are these expectations realistic? Employers need to weigh the reality of these varying expectations with their own future workforce planning needs, in order to have a productive, engaged and current workforce. Aims and ambitions 14

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