The majority of business owner-managers feel that they will be forced to postpone retirement and work longer due to concerns over the state of their pensions and growing business fears.

A survey by Clifton Asset Management (CAM) of more than 1,000 owner-managers found that those postponing retirement had increased from 56% three months ago to 65%.

"Clearly the economic downturn is already having an impact on people's retirement plans, " said CAM director Anthony Carty.