Third of Scots have to delay retirement

Almost a third of Scots reaching the end of their working lives this year are being forced to put their retirement plans on hold, according to research out today.

Of the 31 per cent of Scots delaying their retirement, nearly a fifth are putting it back because they can't afford to stop working, the latest findings from the Prudential Class of 2011 study show. The number citing financial issues for their decision to keep working has grown in the past year as inflation has risen and disposable incomes dropped.

The average Scot putting their retirement date back had originally hoped to quit work by the age of 61 but now expects to be 67 before they can retire, while a significant amount predict they will be working until their 70s.