More Britons are working beyond the state pension age as they delay retirement, according to data from the Office for National Statistics (ONS).
The latest update to the ONS' Pension trends chapter 4 - the labour market and retirement estimated that 11.6% of women and 12.2% of men over the SPA were in work in 2012.
The organisation calculated the average age men left the labour market rose from 63.8 years to 64.6 years between 2004 and 2010. Among women the average age increased from 61.2 years to 62.3 years over the same period.
For men this follows a slight fall in the average retirement age in the early 1990s followed by a decade of stability. For women however, the trend has been upwards since 1984, with a particularly sharp rise over the past decade.
Just Retirement director Steve Lowe said the data showed that the pace of change was rapid.
"It is vital that those approaching retirement age properly plan their retirement choices to make the most precious pensions savings and other assets," he said.
"The ABI mandatory code of conduct on retirement choices goes some way to ensuring the insurance industry does its part, but people will benefit from professional financial advice which considers how best to organise and decumulate pension and housing assets to meet the challenges facing people in later life."
Partner Insight: Cathi Harrison, director of para-sols and Apricity and Clare Farrell managing director at Northfield Wealth met in London recently to discuss how to stay on top of regulatory risk.
CEO labels whistle-blower as 'brave'
Adds up to £130m FUM
Our weekly heads-up for advisers
Think tank report