Half of employees 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, in keeping with a report from Canada Life.

Over half (52%) of these over the age of 55 stated they deliberate to work longer resulting from worries that their pension won’t be adequate to cowl their day-to-day bills.

A 3rd of these surveyed (30%) had been nervous concerning the affect of the cost-of dwelling disaster and 29% weren’t certain how lengthy their cash would final.

Of those that had been planning to work past State Pension age, 51% stated they deliberate to remain inside the identical or comparable roles.

A lot of these surveyed had been nervous concerning the affect of getting to work longer, with 34% involved they’d not have the ability to take pleasure in their outdated age because of this.

A 3rd (33%) had been nervous about their well being deteriorating due to working longer and 1 / 4 (24%) had been nervous about not with 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 have the ability to sustain with new technological change.

Dan Criminal, safety gross sales director at Canada Life, stated: “It’s clear the cost-of-living disaster is making folks re-evaluate their plans with a lot of those that are approaching retirement now going through the opportunity of working past their State Pension age. For individuals who need to work with the intention to make ends meet, it’s comprehensible that this prospect is probably not welcome.”

When requested what employers may supply that may be of most use to these working previous State Pension age, 45% stated earnings safety. This was adopted intently by important sickness cowl (39%) and life insurance coverage (38%).

• Opinium surveyed 2,000 UK adults between 10 and 14 November.