The Employee Outlook survey of 2,000 working people shows the proportion of people aged 55 and above planning to work beyond the state pension age has jumped to 71%, compared with 40% two years ago. Financial factors are the main reason employees of all ages plan to work longer, with 71% of those aged 55 and over saying this is the case.
The CIPD reports the recession has shrunk pension pots, savings, investments and house values.
Chares Cotton, reward adviser at the CIPD, said: "Employers need to review how they are helping their employees save for retirement to get value from their pension spend from 2012 onwards. With more people planning to work past 65, employers will have to accommodate older workers and motivate those who wish they could be elsewhere."
The research also shows the older people get, the more likely they are to be planning to work beyond state retirement age, suggesting that reality bites as they get closer to drawing their pension. Less than a third (30%) of people aged between 18 and 24 plan to work beyond the state retirement age, but 52% of this age group said they did not know and 18% said no.
Less than half of employees (46%) said they had a pension with their current employer, with men (52%) more likely than women (39%) to say this is the case. But less than a quarter (23%) of people aged 18 to 24 have a pension with their current employer.
