Only 31% of UK workers say they want to retire between the ages of 60 and 65, according to a recent survey.

However, with 29% seeing themselves giving up work between 66 and 70, 12% planning to work beyond the age of 70, and one in 10 saying they don’t believe that they will ever stop working, the typical age of intended retirement for all adults questioned is 66 years – not far off the current retirement age for men – something which may well change in future generations with less generous pension provision.

The survey did find that the vast majority want to keep on working for some period of time, either for their current employer, or in self employment. Four in 10 (41%) of over 55s say they would continue working for their current employer beyond their official retirement date if possible. Of those, a quarter (24%) would opt for ‘part-tirement’ – cutting hours down to part time, working flexibly or becoming self-employed – while 13% would like to continue to work full time.

Clive Bolton, at-retirement director for Aviva Life, which released the Real Retirement Report, 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.”

Gradual retirement or part-tirement is an attractive option to many, with 61% of the over-55s saying they would like to become self-employed – however this raises issues of financial planning. Clive added: “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.”