As much as 38% of people who planned to retire in 2011 have decided to postpone their retirement, according to research from the Prudential.
The survey showed that as many as 22% of these people felt that they could not afford to stop working, while 40% of people delaying retirement believed they would have to work past the age of 70 in order to have enough money for a comfortable life as a pensioner.
The earlier that you start saving for your retirement, the easier it will be – see our online guide to planning for your retirement to find how much you need to start saving now.
If you’re approaching retirement, it’s also important to start budgeting for life after work – work out whether or not you’ll still need to pay off your mortgage, and whether you’ll still have the same transport costs, for example.
Get in touch with the Pensions Service to find out much you’ll be eligible to take from the state pension, and see our online guide to the state pension for more information on the state second pension (S2P).
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