Retirement income worries will lead many older people to work for longer, research from the Chartered Institute for Personnel and Development (CIPD) has shown.
According to the report, the number of UK over-55s planning to work beyond the state pension age stands at 71 per cent.
In 2006, this proportion stood at just 40 per cent.
Since then, the global credit crunch and economic downturn has reduced the value of many pension pots and interest-based returns on cash savings.
However, older people who still wish to stop work at the retirement age retain the option of boosting their income through an equity release plan.
Charles Cotton, CIPD adviser on reward and employment conditions, commented: "With more people planning to work past 65, employers will have to accommodate older workers and motivate those who wish they could be elsewhere.
"Employers need to review how they are helping their employees save for retirement to get value from their pension spend."
A total of 2,000 people were questioned during the CIPD survey.
Posted by Alison Stephenson
