Those approaching their senior years may well be looking forward to an affluent and active retirement, but this could be ruined by giving up work too soon, according to Saga.

Research by the older people's service provider suggests that Britain's most well-off pensioners are those in their 80 who worked up until the standard age for leaving work and are living off company pensions.

Among this demographic, the average age for retirement was between 60 and 65, which suggests that they did not opt to finish working at an earlier stage.

Only 18 per cent of pensioners in their 80s have not been able to afford the majority of things they want in their golden years, in comparison to nearly a third (30 per cent) of those in their 50s.

Saga group chief executive Andrew Goodsell comments: "The experiences of people already enjoying life without work should act as an example to those who want to ensure an active and affluent retirement."

In related news, older people's support organisation Prime stated that the number of seniors establishing their own enterprises is on the rise.