The Prudential said that increased life expectancy and improvements in general health are "changing how we think about retirement".
For many people retirement is now a gradual process rather than a watershed where you simply stop working one day and become retired the next, and that is reflected in the change in attitudes shown by our research.
Working past traditional retirement ages is not solely driven by financial pressures and the research shows growing numbers of people wanting to carry on working because they enjoy it and because it keeps them stimulated mentally and physically.
Almost one in four people scheduled to retire this year say they are not ready to stop work, according to a report. A survey of more than 1,000 people nearing retirement found that one in seven had already delayed their plans.
A wider poll of around 7,000 adults found that just over half would consider working beyond the state pension age because of financial considerations.
Prudential said its study also revealed that many people wanted to carry on working to keep mentally and physically fit.
The UK's 12-year retirement savings shortfall is the biggest out of 15 countries.
The average retirement savings gap for the UK is eight years, two thirds more than other countries.
The UK's 12-year retirement savings shortfall was the biggest chasm in the study, which covered 15 countries. The average retirement savings gap found across the research was two-thirds of that in the UK, at eight years.
People are living longer, through tougher economic times, but their expectations about their standard of living in retirement remain unchanged.
They are putting off the inevitable, which is the reality of significant cuts to their living standards in their twilight years, after their savings run out.
– Christine Foyster, head of wealth development at HSBC
Greater flexibility may be needed in pension saving, the head of investment propositions at Scottish Widows has said in response to a new study that shows that the next generation may have to start saving at 25 years old to retire by their 70s. Iain McGowan said:
Offering more flexibility that combines the accessibility of an Isa with the tax benefits of a pension could help future generations face up to the twin challenge of saving for short-term financial hurdles like a deposit for a mortgage or a wedding while at the same time setting aside enough for retirement.
– Iain McGowan, head of investment propositions at Scottish Widows
In the future, older workers - especially in the professional and business services sector - are likely to stay working longer into their 70s, but the nature of this work will become more flexible and probably more part-time.
Workers in manual or vocational careers are also likely to look to extend their working lives by undertaking a less strenuous, more part-time role.