One in four retirees fear Brexit will wreck their retirement plans

Alys Key
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Some have even considered moving abroad as a result of Brexit (Source: Getty)

More than a quarter of those planning to retire this year are worried that Brexit will have a negative impact on their financial plans.

A third of people retiring this year said that the referendum had already impacted their plans, according to new research from Prudential.

The figures also showed that one in 10 people of retirement age have altered the date they planned to leave work as a result of the Brexit vote.

For 6 per cent, the result had such a dramatic impact that they are now reconsidering which country to live in when they retire.

Market volatility was a particular concern, with 14 per cent admitting they were worried about a possible negative impact on their pension fund.

Yet the majority of imminent retirees were unfazed by Brexit, as two thirds (67 per cent) said it had no effect on them.

Kristy Anderson, a retirement expert at Prudential, said: “People planning to retire this year are expecting the highest retirement incomes since 2008 – so on the face of it, Brexit has had little impact on their retirement expectations.”

Another 12 per cent believed leaving the EU would benefit their long-term finances.

One in five also said that they were more likely to seek professional financial advice as a direct result of the UK leaving the EU.

Anderson added: “With one in three new retirees telling us that their retirement plans have been affected by the referendum result, it is clear that uncertainty is having an impact for some.”

The full survey of 1,000 people planning to retire in 2017 was part of wider research into the attitudes of 10,605 non-retired UK adults over the age of 45.

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