A record number of over-65s are opting to delay their retirement and remain in work, according to the latest employment figures.

The Office for National Statistics (ONS) has revealed that a total of 929,000 pensioners were still in the workforce at the end of May, a rise of 102,000 since the last quarter. 

It means that nine per cent of all people who have reached retirement age in the UK are still working and represents the highest employment rate among this age group since records began in 1992.

However, the rise in employment was confined to older men, with fewer women aged 65 and over now in work compared to three months ago.

Dr Ros Altmann, director-general of Saga, claimed many older people are staying in work in a bid to ease into retirement, while others may be finding their private or state pensions are not as good as they had hoped.

She said: "Generally though these figures should be seen as a indicator that we are redefining retirement.

"By encouraging the opportunities of working longer, we can ensure older people contribute to economic growth and generate an income for themselves while making retirement more fulfilling."