By Marcus Leach

According to data released by the Office for National Statistics (ONS) 1.41 million people in the UK are working beyond the state pension age (SPA).

This number, the ONS says, has almost doubled since 1993 and reflects not only a growing and ageing population, but pressure to keep on earning beyond retirement age,

Of those who are working past the SPA around two thirds of them are doing so part-time, while just over half work for small employers, who are more likely not to provide a pension scheme.

"The number of workers above SPA has risen at a faster rate than the population," the ONS said.

"There may be many factors influencing the decision for more people to work past SPA such as the improved health and well-being of this group, financial pressures, people living longer and wanting to remain active in society and others.

"When working over the SPA, those remaining in the labour market work fewer hours, possibly helped by the financial support of their state pension and other pension arrangements, which allows them to fit their work around other engagements."

Join us on
Follow @freshbusiness