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More and more people will work on past state pension age

Makbool Javaid

A report by Canada Life based on latest ONS employment figures reveals that 23 million workers say they will have to work past state pension age. The figures also show that 47% of UK employees will be older than 70 before they retire, up from 37% in 2017. A series of economic factors are driving employees to work for longer with 90% saying that the rising cost of living is the main reason why they expect to work beyond 65 and 87% saying the same of poor returns on savings due to low interest rates. 35% believe that older workers will have to learn new skills or retrain to remain employed.

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