A major new study suggests that 3.3m pre-retirees have started ‘phasing’ into retirement by reducing hours and cutting back responsibilities.

There has been a surprise decline in the number of advised clients ‘phasing’ retirement since the pandemic.

Research into retirement preferences among over-50s has revealed that many have a fear of missing out (‘FOMO’) when they finally stop working and many favour a phased retirement approach as a result.

British workers are the most likely in Europe to ‘phase’ their retirement by working at least part time past normal pension age, according to a new study.