The number of people in the UK between 65 and 74 and still working has increased by 13% over the past six years, according to new research.

A survey, carried out earlier this year, found that just over three quarters (79%) of 65 to 74-year-old were are now fully retired, a significant fall on the 92% seen in 2016.

The rise in the number of people still working past 65 is mostly due to the recent rise in State Pension age to 66 or 67, according to the research from Aviva.

Many older people are choosing to work longer to boost their income rather than waiting for the State Pension to kick in.

In 2016, 96% of people in this age range said the State Pension accounted for some of their income, compared with 71% in 2022. This represents a 25% decrease in the proportion of 65 to 74-year-olds receiving part of their income from the State Pension.

The 65 to 74 age group is also growing. According to the 2021 Census, those between 65 and 74 accounted for 19% of the UK population, compared with 16% a decade ago.

Over 65s were also more worried about money in retirement than they were in 2016.

More than one in ten (11%) of those surveyed were worried about running out of money in retirement, in comparison to just 1% in 2016.

Matt McGill, managing director at Aviva Equity Release, said: “In the years since we first carried out this research, significant events have impacted the way people feel about the economy, their futures and their retirement plans. Many of these events, such as the cost-of-living crisis, the pandemic and Brexit, have impacted people of all ages, but the increase in the State Pension Age has added new challenges specifically for the over 65s.

“While for some the income gap can be plugged by wages, our survey shows there’s still a significant shortfall for around a fifth of the over 65s, which has translated into them worrying more about having enough money in retirement.”

Despite the pension income challenges, most 65 to 74-year-olds who own their own homes have seen the value of their property grow since purchase.

Sixty-five to 74-year-olds have, on average, lived in their current house for 24 years and benefitted from the rise in property prices over that period. In 1998, when this age group typically bought their current house, the average cost of property in the UK was £66,231. The Aviva survey results show that homeowners in this age group’s now own property worth on average £302,000, more than four times the original purchase price.

Nearly two thirds own their property outright. Typically, those who do have been in tenure six years longer than those with a mortgage.

• Censuswide interviewed 1,507 consumers over the age of 45 on behalf of Aviva in April.

• Editor's Note: story has been updated to add additional data and clarity.