There is no legal retirement age and employers can no longer force their employees to retire at a particular age - it’s up to you when you decide to stop working. That said, according to recent figures produced by the Office for National Statistics (1) and the British Retail Consortium, nearly three quarters (71%) of UK employees – equivalent to 23 million people – are set to work beyond their 65th birthday and a further 37% believe they will reach their 75th birthday before they retire!
Amongst those expecting to work beyond the age of 65, 71% cite the rising cost of living as a reason. Food prices in particular have been increasing at their fastest pace for more than five years – the result of last year’s extreme weather and an rise in global import costs .
A third (32%) of those who intend to work beyond the age of 65 admit that they need to continue earning a wage because their pension savings are insufficient, rising to two in five (39%) among the age group approaching the traditional retirement age of 65 (45-54 year olds).
Income protection (17%) and life insurance (16%) are highly valued benefits for employees who are considering working beyond the age of 65, while one in ten also appreciate the support of a critical illness cover (13%) or access to an Employee Assistance Programme (10%).
 ONS Labour market data, March 2019
 British Retail Consortium, Shop Price Index February 2019
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