The first five years of retirement is a time of worsening health for 32% of retirees with 9% contracting a serious illness; according to research.
Family members were given support by 28% of retirees, while 32% had a grandchild within five years of taking their retirement.
The figures varied considerably nationwide. In Scotland 44% of retirees saw their health deteriorate while in Yorkshire and Humberside 43% saw their health deteriorate five years or sooner after retirement.
Losing a spouse affected 10% of retirees, however this figure doubled in the North East of England.
Richard Rowney, life and pensions managing director at LV= said: "Although retirement is often seen as a time to take your foot off the pedal there are often life changes that occur that could lead to financial upheaval.
"It is therefore essential that retirees have a degree of flexibility around their finances so they can adapt to a change in their needs."