Later Retirement for Parents

by Wendy Wan

With Mother’s Day coming around only once a year, yesturday was the day to spoil and pamper mothers all over the UK, especially in light of a new study which found that parents are forfeiting their dreams of travelling and retirement to shoulder the burden of their offsprings rising costs.

The research undertaken by The Children’s Mutual, found that 57% of parents asked said that they felt there was “no choice” but to retire later in order to support their 18-30 year old children.

4 in 10 parents said they expect to work five years longer.  With nearly 1 in 10 believe they would have to work at least a decade more than planned, some even abandoning their retirement dream all together.

With these staggering figures coming to light, Mother’s Day was a day to celebrate all these supportive and hard working mothers.