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Nearly one in three people are postponing their retirement and asking to carry on working, a CBI survey on employment trends has found.
The right to ask to work beyond a normal retirement age has existed for two years since the introduction of age regulations - and now 31 per cent of people reaching retirement age are asking to postpone their retirement and carry on working. The CBI survey of over 500 organisations, which employ one million people, covers the commercial and public sectors.
John Cridland, the CBI deputy director-general, said: "Many older workers do not want to retire. In the majority of cases, employers are very happy to retain older staff, who often have invaluable skills and experience. Employers are embracing the benefits of flexible working."
Organisations are increasingly offering different types of flexible working beyond retirement, including phased retirement, employees taking a pension and working, part-time work, and seasonal or project work.
There is no official retirement age in the UK. Age regulations introduced a default retirement age of 65 but this is not mandatory. Employers do not need to set a retirement age at all.
More information about Retirement and Flexible working.