Money concerns `causing Brits to delay retirement`

A considerable number of Britons are planning to delay their retirement because they do not have sufficient funding to support themselves in their post-work years.

This is according to figures produced by Prudential, which suggested that around 2.2 million adults aged 45 and above are in this situation.

It cited the state of the economy and the falling values of investments as factors which have contributed to the trend.

Nearly one in four (23 per cent) of those who intend to delay retirement believe they will never be able to afford to give up work.

The Prudential`s Martyn Bogira said: "It is vital that those saving for retirement continually monitor their investment mix to ensure they have the right risk profile to help minimise the impact of economic fluctuations and falling stock markets."

Recently, Scottish Widows released research which found that 56 per cent of parents have given or loaned their children or grandchildren money, with one in six of these parents going into debt to do so.