Half of staff within the UK (49%) plan to work past State Pension age, with the common particular person now anticipating to push again retirement to 72.
That is two years older than in 2022, based on a report from Canada Life.
Over half (52%) of these over the age of 55 mentioned they deliberate to work longer as a consequence of worries that their pension is not going to be enough to cowl their day-to-day bills.
A 3rd of these surveyed (30%) had been fearful concerning the affect of the cost-of residing disaster and 29% weren’t positive how lengthy their cash would final.
Of those that had been planning to work past State Pension age, 51% mentioned they deliberate to remain throughout the identical or comparable roles.
Lots of these surveyed had been fearful concerning the affect of getting to work longer, with 34% involved they’d not be capable to get pleasure from their outdated age because of this.
A 3rd (33%) had been fearful about their well being deteriorating due to working longer and 1 / 4 (24%) had been fearful about not having the ability to spend sufficient high quality time with household.
With AI and know-how changing into extra built-in within the office, 18% had been involved that they’d not be capable to sustain with new technological change.
Dan Criminal, safety gross sales director at Canada Life, mentioned: “It’s clear the cost-of-living disaster is making individuals re-evaluate their plans with lots of those that are approaching retirement now dealing with the potential for working past their State Pension age. For many who should work with a view to make ends meet, it’s comprehensible that this prospect might not be welcome.”
When requested what employers may provide that will be of most use to these working previous State Pension age, 45% mentioned revenue safety. This was adopted carefully by crucial sickness cowl (39%) and life insurance coverage (38%).
• Opinium surveyed 2,000 UK adults between 10 and 14 November.