As expected retirement incomes hit a five-year low, Brits could be forgiven for being extravagant with finances while they remain in employment.
A class of 2012 study by the Prudential has revealed that the average UK retirement income is predicted to drop to £15,500 per year - 16 per cent lower than in 2008.
One in five workers is also expected to retire on less than £10,000 a year and fewer than two in five expect a financially comfortable retirement.
Vince Smith-Hughes, Prudential's retirement income expert, commented: "The current economic climate has created the perfect storm for people in the run-up to retirement.
"The impact of the credit crunch, banking crisis, recession, and concerns over the Eurozone, has been reflected in the fact that expected retirement income levels have hit a five-year low."
Consequently, many may be pushing forward those home improvement plans they had intended for retirement.
A
conservatory is one of the most popular home improvements in the UK, with eight per cent of Brits anxious to show off their unit.
What's more, they add value to a property, which is vital as retirement pots deplete.
Additionally, a
upvc conservatory can improve the energy efficiency of a home, by reducing draughts and increasing heat retention capabilities.
As people approach retirement, they may want to think about investments they can make while still in employment - such as a conservatory - which could both improve the quality of life and increase the value of assets.
However, some Brits are not going into retirement without a fight, according to research by Aviva.
Some 86 per cent of retirees believe that they could do a better job than younger people at their roles, while 63 per cent admit that they would relish replacing someone younger in the workforce if given a chance.
Over half of former workers (53 per cent) also claim that they would dedicate more time to their career than their younger counterparts.
