New research carried out by LiveMore found that 49 per cent of those who took part in the survey are now rethinking when they will finish work.
The survey showed that 26 per cent of those who are aged between 50 and 79 have been forced to postpone retirement, while 23 per cent are seriously considering placing it on the back burner.
Rising prices have also forced seven per cent to take on more work or a second job.
For those who have just retired the situation is just as worrying, as 28 per cent said they have had to return to the workplace due to the cost of living crisis.
Overall, 17 per cent have gone back to work full time and 11 per cent part time, with a further seven per cent seriously considering re-entering the workforce.
One in four postpone retirement
Leon Diamond (pictured), CEO and founder of LiveMore, said: “One in four people who were looking forward to taking retirement have had to postpone it due to the cost of living crisis, which is really unfair.
“And almost another one in four are contemplating postponing their retirement, which just shows the level of how much people are struggling to get by.”
He continued: “We want to get the message across that people over the age of 50, and even into their 90s, can access finance via a mortgage.
“This is the age group of all our customers, many of whom tell us how grateful they are that someone will lend to them, as other lenders typically turn them away. The cost of living crisis is going to be with us for some time but there are options. Brokers can easily talk to us about what is available for any clients who are retired or approaching retirement.”
