The number of people working past 70 years old because they have no pension savings has increased in the past four years.
Poor pensions, more people living longer and laws stopping bosses from retiring the over 65s have all been highlighted as factors triggering the trend by the Office of National Statistics (ONS).
But a distinct gender gap is emerging as well.
The number of women working into their seventies has doubled from 5.6% in 2012 to 11.3% last year.
Around 150,000 women are thought to be working into their seventies.
Health and mobility issues
Meanwhile, the number of men retiring well past state pension age has also increased, but at a slower rate, from 10% in 2012 to 15.5% last year.
Another reason for the surge in numbers of women having to work longer is that many missed out on the new state pension, which started in April 2016.
Thousands of women who planned to benefit from an earlier retirement age had their financial plans dashed with the new rules that meant they must work until they are older.
By October 2020, men and women will have the same state pension age of 66 years old.
The government is urging employers to keep the over 55s in the workforce and not to discriminate against them when jobs become available.
However, many employers are finding they must adjust working practices to account for health and mobility issues with older staff.
Trapped workforce
Nathan Long, senior pension analyst at investment firm Hargreaves Lansdown, said: “This jump in those leaving work over 70 may simply be through individual choice. Workers should be encouraged to work as late in life as they are able and feel is desirable.
“However, it is also a reflection of the increasing strain on the pension system. The best days of well-funded early retirement are behind us. The risk to employers is of a workforce trapped in jobs they don’t want to do, which will inevitably impact on productivity.
“The risk to employers is of a workforce trapped in jobs they don’t want to do, which will inevitably impact on productivity. The government has already set out their vision for fulfilling working lives, but its success requires employers to embrace flexible working, re-education of employees and the transfer of a lifetime of knowledge.”
