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UK: Rise of the ‘nevertiree’
A new survey suggests that 60% of wealthy people in the UK have no intention of retiring, compared to 54% in the US, 46% in Japan, 44% in Spain and 34% in Switzerland.
Barclays Wealth interviewed some 2000 people with investable assets of over £1m in Europe, North and South America, the Middle East and Asia Pacific.
Faced with demographic changes and the budget deficit, the British Government has already announced plans to abolish the current mandatory retirement age of 65 as of October 2011.