Class of 22 banner

Our Class of 2022 retirement report

See how the UK retires, and how your plans stack up.

What's it like to retire in the UK today?

We asked 2,000 UK adults who were planning to retire in 2022, or who had recently retired, about their retirement plans and what it’s like to be retired.

The findings, published in our Class of 2022 UK retirement report, give a detailed look at how the UK retires and how retirement is changing.

  • Over half are retiring earlier than planned
  • 66% plan to continue working in some capacity in retirement
  • 28% are worried about protecting their income from rising inflation
  • Nearly 20% are concerned about their income lasting

Watch our video for more insight from retirees

Find out more about the Class of 2022 key themes

Most retirees are continuing to work

It’s clear that the pandemic continues to have a significant impact on people’s retirement plans, and what retiring means to them - it’s now less and less about giving up work altogether.

In fact, only 34% of our 2022 retirees say they plan to give up work altogether, compared to 44% in our Class of 2021 report. Some plan to move to part-time working, either with their current or new employer. Others will continue working for their own business or plan to start their own business.

Only 1 in 4 retirees feels financially ready to retire

We’ve also seen a fall in confidence about how financially ready people are to retire – 25% this year against 30% last year.

The rising cost of living is likely to be a key factor in this drop, with 28% saying they don’t know how to mitigate the impact of rising inflation on their retirement income. This will be a particular concern for those with a lot of money in cash savings, which are rapidly losing value. Do people need to consider moving some of these into investments to help their money last longer?

Fewer than 1 in 5 retirees have taken professional advice

Getting help with retirement planning can make what’s perceived to be a complex and emotive process much easier to manage.

Our Class of 2022 retirees mention a wide range of sources to help shape their retirement plans – from friends and partners to their employers. But few are benefiting from speaking to professional advisers. In fact, worryingly, only 18% have spoken to an adviser about their plans.

Most don't know how to pass on wealth to loved ones

56% of 2022 retirees hope to pass on wealth to their loved ones in retirement. However, only 23% feel confident about how they can do this. Again, this is where professional advice could help.


Jonny Stewart

Financial planning consultant

Want to talk to us?

Book a free, no-obligation consultation call

Check availability

Our clients rate the call 4.5 stars out of 5