Over 154,000 people aged 55-64 have opted for early retirement due to the impact of the Coronavirus pandemic, according to a new report.
The LV= Wealth and Wellbeing Monitor found that over 154,000 people aged 55-64 have opted for early retirement because of redundancy and reduced income.
A desire to reduce their risk of exposure to Coronavirus or the pandemic made them reassess their priorities in life, the research revealed.
The LV= research among those who were still working at the start of 2020 revealed that 3% of those aged 55-64 have taken early retirement due to the pandemic.
The research also found that 4% of those aged 55-64 have accessed some of their pensions savings to supplement their income because they have been made redundant or seen their earnings decline.
The LV= research also highlighted that people were often unprepared for early retirement.
Of those surveyed, 86%