Daily Mail

Now 15% of women work past 70

- By James Salmon Business Correspond­ent

The number of women working into their 70s has doubled in four years, according to official figures.

Meagre pensions, rising life expectancy and laws banning employers from retiring staff at 65 are thought to have helped drive the trend.

Analysis of an Office for National Statistics report shows the proportion of women retiring after turning 70 has increased form 5.6 per cent in 2012 to 11.3 per cent last year.

The proportion of men retiring after they turn 70 has jumped from 10 per cent to 15.5 per cent over the same period. The ONS does not keep figures on how many women and men this equates to. experts have warned that many people are also being forced to work for longer because they have an inadequate pension.

employers have cut pension benefits and most have shut down generous final salary schemes.

Despite reforms to the state pension affecting those who retired after April 6, 2016, many women do not qualify for the full £155.65 a week. This is often because they have gaps in their national insurance records after taking career breaks to look after children.

The rising state pension age has also forced many people to work for longer.

Nathan Long, of investment experts 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.’

STEPHEN GLOVER IS AWAY

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