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  • March 2015
03

Average retiree has three holidays a year, £330 monthly income and wine at 6:30pm

Open-access content Friday 27th March 2015 — updated 5.13pm, Wednesday 29th April 2020

The average retirement consists of three holidays a year, a disposable income of £330 a month and a daily glass of wine at 6:30pm, according to a study.

A survey of 1,257 adults aged 60 and over found the typical retiree enjoyed three "slap-up" meals out a month, two weekends away a year and 17 day trips.

The poll, conducted by Senior Railcard, reported 94% of respondents said they were enjoying retirement and half of those polled said they were "having more fun than ever before". The majority (70%) said they felt "a lot younger" than their actual age and retirement was "better than expected". 

According to the survey, upon retirement, a third "regularly set up lunch dates with friends" while a quarter revamped their house and one in 10 signed up to Facebook. 

The study also found that going on a cruise, taking up a new hobby and losing weight were some of the common things to do within the first year of retirement.  

Andrew Robertson, marketing manager at Senior Railcard, said: "Leaving work and having so much spare time on their hands can be apprehensive for those embarking on retirement. So it's fantastic that so many people are relishing their retirement and staying active.

"For so much of our lives we are restricted by our working hours, so if pensioners are filling their time with holidays, day trips and meals out, that can only be a good thing."

The study also reported the typical pensioner took part in "some sort of physical activity" at least six times a month, with the most popular activities being brisk walking, gardening and rambling. A "more ambitious" 17% enjoyed cycling, Zumba or salsa dancing while a "really go-getting" one in 20 said they would like to try "extreme motorsports".

Robertson said: "Our poll showed that adults in their 60s, 70s and 80s are determined to make the most of life in retirement and have no intention of slowing down." 

The poll found 82% had a "positive outlook" in life and nearly half said they retired "at just the right time". A third said they "couldn't wait to give up work" as they had been working all their lives.

However, more than one in 10 were "apprehensive" to give up a job they loved and one in 20 worried they would argue with their partner if they were "stuck at home all day".


Most popular tasks in the first year of retirement:

1. Going on foreign or UK travel 

2. Meeting friends for lunches

3. Decorating the house

4. Buying a new car

5. Renovating the house

6. Taking up a new hobby

7. Joining Facebook

8. Going on 'road trips'

9. Going on a cruise

10. Losing weight

11. Visiting work colleagues

12. Going on a luxurious holiday

13. Buying a smaller house

14. Getting a dog

15. Getting a lesson in IT / internet

16. Buying a bigger house

17. Moving nearer to the grandchildren

18. Joining Twitter

19. Buying a holiday home

20. Buying a motorhome

This article appeared in our March 2015 issue of The Actuary.
Click here to view this issue
Filed in:
03
Topics:
Pensions

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