New research suggests more than one in four people plan to work full or part-time after they reach State Pension age.
Women are more likely to plan to work later in life out of necessity, while men say it will be through choice, said a report. A survey of more than 2,000 adults by Rest Less found that 28 per cent plan to work beyond their State Pension age, with many saying they could not afford to retire, or wanted to keep working for their health and wellbeing.
Rest Less, which gives advice to older people, said the whole concept of retiring was changing.
Founder Stuart Lewis said: "We are living longer lives than previous generations which means that many of us are now working for longer than we might have planned.
"For some, working longer is a positive choice which reaps many physical, mental and social benefits. For others, the choice is denied as people find they must keep working to make ends meet.”
He continued: "The UK State Pension is already relatively modest compared to other countries, and following the temporary suspension of the triple lock guarantee, is now set to rise significantly less than the Bank of England's forecast for inflation in April.
"With few ways of boosting earnings after retirement, miserly interest rates on savings and the cost of living surging, millions are at risk of suffering pensioner poverty.
"Today, the whole concept of retirement is changing. The idea that retirement is a cliff-edge where you work five days a week for 40 or 50 years and then suddenly stop, 'cold turkey', is no longer accurate.
"Instead, more and more people are viewing retirement as a transition to a new phase of life to be lived in a fulfilling and purposeful way."
A Department for Work and Pensions spokesperson said: "Older workers are a huge asset to our economy and the majority of those polled by this survey who plan to remain in work beyond state pension age identified health, social and wellbeing benefits as their main reason for staying in employment.
"For those who decide to retire, from April the full yearly amount of the basic State Pension will be over £2,300 higher than in 2010 and we continue to encourage those eligible for Pension Credit, and the wide range of other benefits it can provide, to make a claim."
What is Pension Credit?
Pension credit is an income-related benefit aimed at people living in the UK over State Pension age.
It offers older people a weekly top-up to their income - you can also choose to be paid fortnightly or every four weeks.
It’s available to single pensioners, including widows and widowers, as well as couples.
To use the calculator, you’ll need details of:
earnings, benefits and pensions
savings and investments
You’ll need the same details for your partner if you have one.
Who cannot use the Pension Credit calculator?
You cannot use the calculator if you or your partner:
are deferring your State Pension
own more than one property
are self employed
have housing costs (such as service charges or Crown Tenant rent) which are neither mortgage repayments nor rent covered by Housing Benefit
How to make a claim
You can start your application up to four months before you reach State Pension age.
You can claim any time after you reach State Pension age but your claim can only be backdated for three months.
This means you can get up to three months of Pension Credit in your first payment if you were eligible during that time.
You will need:
your National Insurance number
information about your income, savings and investments
your bank account details, if you’re applying by phone or by post
If you’re backdating your claim, you’ll need details of your income, savings and investments on the date you want your claim to start.
Apply online
You can use the online service if:
you have already claimed your State Pension
there are no children or young people included in your claim
To check your entitlement, phone the Pension Credit helpline on 0800 99 1234 or use the GOV.UK Pension Credit calculator here to find out how much you could get.
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