Over half believe they need at least 70 percent of their final salary to get a good retirement, but only one out of three are willing to continue to work longer than age 67, according to a survey.
While 54 percent think they need at least 70 percent or more of the final salary when they retire, 35 percent reply that they are willing to work after the age of 67 to receive a higher pension, according to the Opinion population survey which was commissioned for KLP , NRK news reports.
26 percent answered that it is unacceptable to work after they have been 67, while 32 percent say they do not know how long they would like to work. 7 per cent responded that the issue is not relevant.
At the same time 19 percent said they do not need as much as 70 percent of their final salary in retirement, while 23 percent are undecided.
Statistics Norway has previously shown that a pension equal to 70 percent of final salary is far beyond what today’s young adults are likely to get.
– The consequence is that you either have to retire later, or save up more money, Morten Gjelstad of KLP says to NRK.
Source: NTB scanpix / Norway Today