People are gradually scaling back on work or changing jobs altogether rather than retiring completely, research suggests.

This is the fifth year in a row that more than half of people due to retire this year will consider working past their State Pension age, according to Prudential’s research.

Many hope to guarantee a larger retirement income. 9% said they want to continue full-time in their current job while 28% would prefer to cut their hours with their current employer. A further 29% said they would look for a new employer altogether while 20% said they hope to start a new business or earn money from a hobby.

Prudential’s study which tracks the financial plans and aspirations of people planning to retire in the year ahead – shows that for the Class of 2017 working later in life is also a means to avoid being at home for a long period with the average time spent in retirement now 20 years.

Meanwhile, more than a third (34%) of those considering working beyond the State Pension age said they do not feel ready to retire, while 30% would like to continue saving more into their retirement fund.

However, financial worries are an issue for a number of those continuing work in 2017, with 8% saying they can’t afford to retire. Of those who can’t afford to retire, more than half admit that they haven’t saved enough into their pensions.

Stan Russell, a retirement income expert at Prudential, said: “Our research has shown that a period of ‘pretirement’, where people choose to delay their retirement plans, change jobs, earn a living from a hobby, or go part-time, instead of giving up work altogether, has become the new norm for retirees in recent times. However not everyone is lucky enough to be able to make the choice – many will find themselves having to work on for financial reasons while others may be forced to give up work for health reasons.”

Russell said that speaking to a financial adviser can help and there’s free impartial guidance from The Pensions Advisory Service and the government’s Pension Wise service.

See YourMoney.com’s Plan to work past state pension age? the key facts for more information.