According to a Prudential survey, almost half of all Britons approaching retirement plan to continue to work and 1.4 million are uncertain if they ever will give up work.
Ali Crossley, retirement director of Prudential UK, said: “It is very different to work past the state pension age because you want to, rather than being forced to do it because you have not saved enough.
“Therefore it is crucial that people plan their finances carefully earlier on in life.”
His concern for those facing retirement follows a Friends Provident survey last month that warned that many people approaching 65 are facing a “pensions time bomb” due to lack of savings.
Mr Crossley urged everyone, no matter what their age, to start planning for their future and be aware of other means of releasing funds, such as value tied up in property.
ClearDebt chief executive, David Mond, added: “While many have made inadequate provision for retirement there are some who also head towards their last pay day with a big debt burden.
“This will become much more difficult to deal with once the only income is a pension. People in their early 50s need to make plans to deal with their debt if they intend to retire in the black.”