Why those who will give up work in 2008 are the luckiest generation

But those currently on the threshold of giving up work have no such worries, according to research.

Most of those retiring next year will have the luxury of going early and a majority will also be on a relatively generous final salary pension scheme, giving them the financial power to spend more than ever.

Nearly all were born in tough times - either during the Second World War, or in the "baby boom" post-war years of austerity. But as far as retirement goes, they are the "lucky generation".

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The survey of those due to retire in 2008 reveals a pensioner profile that will make future generations green with envy.

The average retirement age for men is 60 and for women 58. This compares to a state pension age of 65 and 60 respectively.

One in four said they are giving up work because they can afford to and only 22 per cent of those questioned said they are retiring because they had reached the statutory age.

A further 18 per cent said poor health is the reason behind them leaving employment.

Changes to pension rules introduced by the Government mean that by 2046 the state pension age for men and women will have risen to 68.

Today a significant, yet relatively small, proportion of men work beyond 65, the survey found.

Around 11 per cent of men planning to retire next year are already over 65, while one in three retiring women is currently over 60. The survey of 464 people commissioned by the Prudential insurance company revealed a large wealth gap between different groups of pensioners.

While more than half of those retiring were doing so on a final salary pension, a quarter did not have any pensions savings at all and relied on the state pension.

With eight out of ten final salary pension schemes now closed to new members, future generations are likely to face a very different retirement future.

Commenting on the findings, Ali Crossley, Prudential retirement insurance director, said: "People retiring next year are in general entitled to think, 'What pensions crisis?'.

"On average they are giving up work early and can look forward to final salary schemes having worked hard throughout their lives. That is good news, which is not often a phrase associated with pensions. However, every silver lining has a cloud - and with pensions, it is never hard to find another side.

"Those of us coming after the class of 2008 will perhaps not be so lucky unless we take action to plan for retirement."

Research has also revealed that retail spending by pensioners is set to soar by £25billion over the next decade, and pensioners will become a prime target for sellers.

The biggest spending rise is expected to be in electricals, followed by clothing.

Neil Saunders, director of Verdict Consulting, which carried out the study, said: "Pitching to the older consumer has traditionally been seen as dull and, if most retailers are honest, a bit boring.

"But over the next ten years, this won't be the case. The older shopper of tomorrow is simply not the same person as the older shopper of today.

"The blue-rinse brigade is steadily being replaced by the evergreen shopper, those consumers who want to stay young both physically and emotionally."