FTAdviser.com

Advertising

And new research conducted by Ipsos Mori, suggests that many are less than overwhelmed by the prospect of retiring.

The research, which involved surveying 1000 over-55s, revealed less than 50 per cent of Britons chose the word "happy" to describe how they felt on the first day of their retirement.

A mixed bag of emotions was reported, for those waking up on day one of retirement, with less than a third saying they felt relaxed and less than a quarter per cent feeling "free". One in 10, said they felt "anxious or lost".

Furthermore, people approaching retirement admitted there was lots they would miss about their jobs when they stop. Topping their miss list were work friends, being challenged, office banter and a reason to get out of the house.

Soon-to-be pensioners were equally candid about what they will be happy to turn their backs on. Distaste for the work canteen, office politics and commuting were among the most frequently cited dislikes and three-quarters said they were looking forward to binning the office Christmas party. Oddly, one in 10 people confessed they would miss the journey to and from work.

Mike O’Brien, minister of state for pensions reform, said: "The idea that one day you work and the next you stop can be a shock to the system. These findings challenge the traditional one-size-fits-all approach to retirement. Many of today's older workers are rejecting the cliff edge between work and retirement in favour of a gradual step down. And employers should help them do this."

To have your say on the state pension and retirement planning, read the FT Adviser.com blog.