Three surprises that could reshape your retirement

When you envision your dream retirement, you might think of having time to travel, to be with loved ones or to pursue your interests. But our research has found that life after work can be full of surprises.

More than four in 10 of the retirees we surveyed in May 2026 said their life in retirement differs from their expectations. While they were more likely to say it exceeds their expectations (a quarter) than falls short (just under one in six), zooming in on the details reveals a more nuanced picture. 

Here, we explore how rising costs, caring responsibilities and changes in health have shaped people’s retirement in ways they didn’t expect and share tips on how to prepare for your post-work years.

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1. The cost of retirement

One in five of retirees in our survey said that managing the cost of retirement is harder than they expected.  

According to Pensions UK, the annual cost of retirement has risen across the board this year due to the rising costs of goods and bills. Unsurprisingly, financial security has a huge impact on people’s retirement.

Guy Kilbey took early retirement in 2018: his wife and parents were all experiencing health issues, and juggling family and work commitments was taking a serious toll on his own health.

Early retirement meant a reduction in his defined benefit (DB) pension, but after consulting an independent financial adviser, Guy and his wife were confident they could live more economically. However, Guy said rising costs have left them with less headroom than anticipated, so he’s taken on work as an invigilator to avoid depleting his savings, as living on his pension 'isn’t as easy as my calculations promised’.

Several Which? members said they felt lucky to be of the generation that retired on DB or ‘final salary’ pensions. But the shift towards defined contribution (DC) pensions in recent decades means individuals bear more risk – both in terms of building an adequate pension pot and deciding how to manage their income in retirement.

2. Increased caring responsibilities

One in five of retirees in our survey said they spend more time than expected caring for family and friends. 

While some said they were grateful to have time to support loved ones, increased caring responsibilities can significantly alter retirement plans. ‘I’ve never felt retired as my life is full, mainly caring for others. Nobody prepares you for the life of a carer emotionally', one Which? member said.

People aged 65 or over make up a significant proportion of unpaid carers in the UK, with around one in seven providing care, according to figures published by the Health Foundation. And grandparents are the most common providers of informal childcare, according to the most recent government figures. 

Retired drama teacher Kath Hellier and her husband moved from Manchester to York soon after retiring to support her daughter’s family. They look after their grandchildren, aged three and 10, three days a week – a responsibility she says is both exhausting and a privilege: ‘You need a lot of energy – we’re both over 70, and it’s far more tiring than we expected', she said.

Kath told us their focus right now is supporting their children: ‘You feel as if they aren’t having as good a time as we  did [when we were raising them].’ But as a former teacher, providing childcare has eased her transition to retirement. ‘I’m really enjoying spending time with my grandchildren. They keep me in touch with young people’s ideas and attitudes. And feeling useful really helps.'

‘We can plan for retirement all we like – but accept it may not be as you thought’

Which? member Jan Jenkins retired from her full-time job in the NHS in December 2025 to have more time to support her husband, Chas, whose health was deteriorating. 

But when Chas passed away unexpectedly in the same month she retired, she was faced with two major life changes at once. 'Accept that retirement may not turn out as you thought', she advises. ‘Have a plan B and a plan C, just in case.'

Jan spent the early days of retirement navigating bereavement - a situation made more stressful when her pension payments were held up. Despite giving four months’ notice, Jan said it took more than six weeks and multiple phone calls to receive her first payment, due to poor communication between NHS Pensions and her employer. 

NHS Pensions said it aims to pay members within 30 days of receiving necessary information from the member and their employer: ‘We’re sorry [Jan] did not receive [her] payment on time. We rely on employers to give us accurate and timely information to process applications. When this doesn’t happen, delays can occur… once [Jan’s employer] provided the necessary information, we completed the application within 14 days.’

Jan always planned to take on part-time work and has started working at a local GP surgery in addition to two ad-hoc roles: ‘I needed to get out and engage with people again', she said.

Family and friends have been a huge support, and she’s gradually getting back into her hobbies: tap dancing, as well as singing with a local music group and scout leading – both things Jan and Chas loved to do together.

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3. Changes in health

Retirees we surveyed were more likely to be pleasantly surprised than disappointed by the impact of retirement on their health. Three in 10 said the impact on their physical health was better than expected, and the same proportion said so of their mental health. 

A quarter of retirees in our survey said they spend more time looking after their physical health than expected: ‘My health has improved with time to eat and exercise properly, rather than work, work, work’ said one Which? member. Others said no longer being affected by workplace stress had a positive impact on their mental health.

One member, who had been unable to work due to chronic health issues, said they felt more secure since moving from disability benefits to the state pension: ‘I didn’t realise how stressful that situation was.’ 

But declining physical health can significantly alter the course of retirement. ‘The worst thing is that both my hobbies and the many daily activities of general living are compromised by declining health', one member said. 

Our research: We conducted an online survey of 263 retirees in the UK in May 2026. Separately, we surveyed 1,114 retired Which? Connect panel members who told us in their own words how life in retirement compares with their expectations.