Recruiters must look out for older generation
Its Real Retirement Report found that while a third (31%) of people would like to retire between the ages of 61-65, nearly as many (29%) saw themselves giving up work between 66 and 70.
One in eight (12%) plan to work beyond the age of 70, and a conscientious one in 10 (10%) don't believe they will ever stop working. The typical age of intended retirement for all adults questioned is 66.
Self-employment (61%) is seen as the top employment option in retirement for the over 55s followed by retail work (44%) and leisure/hospitality work (27%). The over 55s' willingness to embrace self-employment - which offers freedom and flexibility - highlights the developing trend of gradual retirement or "part-tirement".
The top reason for working is to improve financial standing (60%) followed by "keeping out from under their partner's feet" (54%). Keeping their mind active and interacting with others were also important to nearly half of respondents.
Clive Bolton, retirement director for Aviva Life, said: "Government proposals mean that the state retirement age is set to increase over the next few years, but it appears that many UK adults already see themselves working well past the traditional retirement age. While increasing financial security is a major factor behind many people working, there are also significant emotional, social and intellectual benefits.
"Keeping minds active, staying out from under their partner's feet and enjoying social interaction appear to be real benefits that are pushing people to keep working. Gradual or part-tirement appears to be a very real choice for many older people rather than the traditional rigid retirement age.
"However, with 61% of people seeing self-employment - flexible but occasionally uncertain employment - as the best career choice for retirement, it is still important to ensure that sensible financial plans are made to boost income after the traditional retirement age. Indeed, we have found that ill health is cited by around four in 10 retirees as the reason for giving up work and as this cannot be predicted, it needs to be carefully planned for."