Older Britons may receive employment boost - Pensions - News - Moneyfacts


Older Britons may receive employment boost

Older Britons may receive employment boost

Category: Pensions

Updated: 28/01/2010
First Published: 25/01/2010

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.
Britons keen on working well into their golden years could receive a boost under Government proposals to open up more job opportunities for the older generation.

Proposals put together by the Equality and Human Rights Commission include abolishing the default retirement age, the extension of the right to request flexible working to all and improved training and development.

Research suggests that extending the working lives of Britons for 18 months would inject a much needed £15 billion into the UK's economy.

The appetite to work being retirement age appears to be there, with over six in ten women (64 per cent) keen to work beyond the age of 60. Twenty four per cent of men said they wished to stay in employment after they passed 65.

Around six in ten workers aged between 50 and 75 said they wished to continue working on a full time basis, while four in ten professed to wanting more flexibility in the hours they worked.

The Government recently indicated that it was looking into eradicating the age at which employers could make employees redundant.

"This is about developing a way of working that is based on the demographics of today's populations and moving away from systems established when people died not long after reaching state pension age and women were supported by their husbands," Baroness Margaret Prosser, Deputy Chair of the Equality and Human Rights Commission, said.

"Radical change is what older Britons are telling us needs to happen for them to stay in the workforce.

"Employers with a focus on recruiting and retaining older workers on flexible working arrangements are telling us it makes good business sense, allowing them to recruit and retain talent while meeting the flexible needs of their customers.

"Britain has experienced a skills exodus during the recession and as the economy recovers we face a very real threat of not having enough workers - a problem that is further exacerbated by the skills lost by many older workers being forced to retire at 65."

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