Working until later in life can help build up a pension, but some people are counting the days until retirement.

Data seems to suggest that a 70-year-old in 2022 had the same cognitive function as a 53-year-old back in 2000. It also pointed to improved physical health as a reason why fit and healthy people should be encouraged to work into their 70s.

This would go some way towards addressing the ratio of working people to retirees, which has become increasingly imbalanced. It would also give workers more time to build up their pensions.

The most recent edition of the HL Savings and Resilience Barometer shows only 36% of households are on track for a moderate retirement, which shows there is still much to be done to build resilient retirements.

However, it’s a suggestion that will polarise people. Some will be more than happy to keep working as they enjoy the challenge, routine and social interaction that comes with work. It’s fair to say others have been counting down the days until they finally leave the workforce and certainly won’t want to stay on.

There are real challenges to be faced as well. First and foremost, we need to address the issue of healthy life expectancy. We may be living for longer but that doesn’t necessarily mean we’re any healthier, and this will have an impact on how long we can work.

Recent government data puts healthy life expectancy in England and Wales in the early 60s. So, while some people are able and willing to keep working, there is going to be a sizeable group who aren’t. Some might be able to continue to work if they changed jobs, but we need to make sure the support and suitable roles are there to enable them to do that.

There will also be those who simply can’t continue, and if government efforts to boost older worker numbers also include measures such as raising the ages at which they can access state and private pensions, it could bring real financial hardship to those who can’t keep going.

Read More: @uk.finance.yahoo.com