Retirement plans on hold for workers

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More than half of this year’s retirees are either already working past their state pension age or would consider doing so, according to research.

The Prudential’s Class of 2016 study showed that for the fourth year in a row more than half would consider doing so if it led to a boost in their income in retirement.

Of those surveyed who were working or considering working beyond their state pension age, 29 per cent would change employers, 27 per cent would stay in their current job but reduce their working hours and 11 per cent would stay on full-time in the same job.

Nearly three in ten (29 per cent) say they do not believe that their pensions and other savings will provide a sufficient income to support a comfortable life in retirement.