This statistic illustrates the alternatives that people list as their financial backup in case of having to stop working earlier than expected in the United Kingdom (UK) as of 2017. It can be seen that a total of 59 percent of the respondents claimed to count on personal savings. A reliance on downsizing property/ selling a second home or on a spouse or partner working completed the top three, with 25 percent of respondents stating these as their back-up options in the event of having to stop working. The least popular back-up plan in the United Kingdom was to take a loan or loans from the bank with only four percent of respondents stating this as of 2017.
United Kingdom: What is your “backup plan” for an income in case you are unable to continue working?
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The question read in full: "Which, if any, of the following are part of your “backup plan” for an income in the event that you are unable to continue working due to ill health or job loss?"
Information regarding the scale and index methodology can be found on a dedicated Aegon page.
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Aegon. (June 6, 2017). United Kingdom: What is your “backup plan” for an income in case you are unable to continue working? [Graph]. In Statista. Retrieved July 22, 2024, from https://www.statista.com/statistics/452609/backup-plan-for-forced-early-retirement-united-kingdom/
Aegon. "United Kingdom: What is your “backup plan” for an income in case you are unable to continue working?." Chart. June 6, 2017. Statista. Accessed July 22, 2024. https://www.statista.com/statistics/452609/backup-plan-for-forced-early-retirement-united-kingdom/
Aegon. (2017). United Kingdom: What is your “backup plan” for an income in case you are unable to continue working?. Statista. Statista Inc.. Accessed: July 22, 2024. https://www.statista.com/statistics/452609/backup-plan-for-forced-early-retirement-united-kingdom/
Aegon. "United Kingdom: What Is Your “backup Plan” for An Income in Case You Are Unable to Continue Working?." Statista, Statista Inc., 6 Jun 2017, https://www.statista.com/statistics/452609/backup-plan-for-forced-early-retirement-united-kingdom/
Aegon, United Kingdom: What is your “backup plan” for an income in case you are unable to continue working? Statista, https://www.statista.com/statistics/452609/backup-plan-for-forced-early-retirement-united-kingdom/ (last visited July 22, 2024)
United Kingdom: What is your “backup plan” for an income in case you are unable to continue working? [Graph], Aegon, June 6, 2017. [Online]. Available: https://www.statista.com/statistics/452609/backup-plan-for-forced-early-retirement-united-kingdom/
