One in five people suffer some kind of health shock within the first five years of retirement, insurance group LV= has found.
Its research shows that 24 per cent of pensioners have seen their health deteriorate in some way during this time.
The findings highlight the importance of writing a will in case the worst should happen, as this will ensure family and friends are provided for.
Even those in perfect health may experience major life changes after retiring, making an up-to-date will and testament even more important.
For example, some 34 per cent of those questioned said a grandchild was born within the first five years after leaving the workplace, while 25 per cent moved house and 20 per cent renovated their property
Other common post-retirement changes included receiving an inheritance, returning to work, relocating to another country and becoming widowed.
In many of these circumstances, those who have already drafted a will may need to make amendments to ensure their wishes are met upon death.
Posted by Gemma Roskell
Published on: August 12, 2010