British Airways has seen steady take-up of its new flexible retirement option since it was introduced in October to provide members with better flexibility in how they access their workplace savings.
The UK airline reported 32 requests were approved between the option being introduced in October 2012 and its December newsletter, and has since continued to receive a "steady stream" of applications, according to the pension scheme.
More employers are considering offering retirement alternatives to give employees flexible work patterns. The prospect of living longer is prompting workers to review how they manage the end of their working life.
"Since the newsletter was published the company has approved more applications and we expect to receive a steady stream of applications from individuals who are eligible," said a spokesperson.
The scheme introduced the option to provide for employees who wanted to have more flexibility in managing their income as they approached retirement. It allows members to reduce the hours they work and draw all or part of the pension benefits they have built up at the same time.
Most requests come from among the 23,350 active members of the £9.6bn New Airways Pension Scheme, although some have come from the 947 active members of its £7.3bn Airways Pension Scheme.
"The bigger picture here is companies not being able to give pay rises at all, so we are seeing alternatives provided more and more," said Jonathan Watts-Lay, director at financial education provider Wealth at Work.
The default retirement age was abolished in 2011, which meant employers could no longer retire people on the basis of age.
Last year, Nationwide allowed employees to work beyond the age of 65 while they start to draw their pension and to gradually reduce their work hours. The bank also also introduced contractual medical cover for employees previously excluded.
