Over-50s expect to stop working later

One in five older people expect to work past the state retirement age, many believing they will still be working well into their 70s, according to research by the insurance company LV.

A survey of 1,500 over 50-year-olds found that a similar number had retired, but had since gone back to work. Twice as many women as men expected to retire after the state retirement age.

Most of those expecting to work longer said they would have to because they could not afford to stop. LV's Ray Chinn said: "This is not only because there is not enough in their pension pots, with 9 per cent of over-50s saying they need to maintain an income to financially support their children.

"It is worrying to see that many over-50s expect to work up to 15 years past the state retirement age, and in some cases they are working even more hours than they did earlier in their careers."