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Women 'expect to retire later'

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Women are twice as likely as men to believe they will stay in employment once they reach the state pension age, a report has claimed.

According to insurance company Liverpool Victoria, 20% of people aged over 50 expect they will stay in work once they are eligible to claim their state pension, with the average time expected to be just over six years.

Around 25% of these think they will work for between five and 10 years, and a fifth anticipate working well into their 70s or even 80s.

The figures also show that two-thirds of women believe they will have to continue working past the state pension age, compared with just over one-third of men.

The high level of women who plan to work on could be due to the fact that the age women can claim their state pension is lower than it is for men, although it is gradually being raised from 60 to 65.

But high levels of women may also need to stay in work for financial reasons, as they typically have lower pensions than men because of a combination of lower pay and the need to take career breaks to look after children and elderly relatives.

 

 

 

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