Most workers in the UK expect to be working part-time after reaching the age of 65, according to a retirement study.
Scottish Widows polled 3,535 people and found 51% expect to be working into their mid-60s, while 18% of those claim it’s more out of necessity than choice.
With minimum auto-enrolment contributions increasing on 6 April 2018, 44% are failing to save the recommended 12% of their salary towards retirement each year.
Only 24% of respondents expect to be in a position to retire when they hit the age of 65, while 39% feared running out of money in retirement.
Robert Cochran, retirement expert at Scottish Widows, said:
While the idea of people around the age of 60 to 65 giving up work once and for all has been disappearing in recent years, our research shows this is a necessity rather than a choice for many.
Auto-enrolment has been a great success and the increase in minimum contributions should mean more people have valuable pension funds to live off as they approach later life.
With life expectancy expected to continue rising, it’s worthwhile remembering that saving for the future doesn’t need to stop at retirement age.
You might be interested in...
01 May 2026
As we've now entered the new tax year, we've outlined below how to prepare for the new tax system changes for 2026/27 and why planning ahead for your tax return in January 2027 is advised. Read our blog for an overview of the upcoming changes.
Learn more
New Tax System Changes for 2026/2730 Apr 2026
Statutory accounts show the past. Management Information delivers timely insights into performance and cash flow, driving better commercial decisions.
Learn more
Why good Management Information is essential for Business Growth
28 Apr 2026
While you can’t control geopolitical tensions, economic volatility, shifting regulations, you can control how your business is structured to respond to them
Learn more
When To Review Your Business Structure
28 Apr 2026
Market volatility and deal pace are changing how SME owners view risk and reward. Read our insights on value creation in today’s M&A market.
Learn more
Increasing the Value of your Business
27 Apr 2026
Compliance matters, but most commercial problems do not arrive neatly at month end. Modern finance supports decisions as they happen, not just records them afterwards.
Learn more
Building a Better Business with an Outsourced Finance Function
20 Apr 2026
For many businesses, the loss of the key person can cause disruption. Having Key Person Insurance can ease financial risk and uncertainty.
Learn more
What Is Key Person Insurance and Why Does It Matters for Your Business?