Over-55s would support appointment of a retirement minister

Nearly two our of three (64%) of over-55s would support the appointment of a retirement minister to focus on the issues facing employees as they approach retirement, according to research by retirement income specialist firm Primetime Retirement.

Its survey found that 25% of respondents would not support the appointment of a retirement minister, while 11% were unsure.

It also found that men are more supportive of the appointment of a retirement minister, with 68% backing the role compared to 60% of women.

Stuart Wilson, marketing director at Primetime Retirement, said: “The over-55s realise that the old retirement of working to 60 or 65 and relying on a company pension has gone forever and that a new retirement reality is taking shape.

“Strong support for the appointment of a retirement minister shows there is a demand for innovation and leadership as the country grapples with the changing retirement issues.

“Of course, appointing a minister won’t solve all the issues, but it would help focus the government and other stakeholders on the need for more options in the retirement income debate.”