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abrdn’s Class of 2022 report – and the rise of

SCDI is delighted to share member abrdn’s latest report on the future for retirees in 2022. 

abrdn’s second iteration of the Class of report series paints a picture of what the Class of 2022 have in store for retirement – from how they plan to spend their time to how prepared they are for what is to come.

The Class of study surveys 2,000 UK adults who are either planning to retire in the next 12 months, or who had retired in the 12 months prior. The ambition is to continue to build on data year after year to provide a detailed view of how the UK retires, and how this changes over time.

This year’s report highlighted a new ‘flexi-retirement’ trend with retirees taking on part-time work and seeking roles in the gig economy. Research found that three fifths (59%) of Scots retiring in 2022 plan to continue working in some way. This compares to just over half (55%) of those who retired in 2021 and a third (33%) of 2020 retirees.

Delving deeper, almost a quarter (22%) of the Class of 2022 in Scotland will go part time with either the same job or a new one, one in eight (12%) will continue to work for their own business, and just over one in ten (13%) plan to become entrepreneurs and start their own business.

This trend of ‘flexi-retirement’ seen across the UK demonstrates how the conventional idea of ending your career at retirement is outdated.

abrdn’s Class of 2022 report also includes insight into the hopes and aspirations of this year’s retirees, as well as considerations and challenges expected.

Read the report here