The Coalition abolished the default retirement age of 65 when it came to power, which has led to the proportion of over-65s in the workforce increasing from 3.4% to 3.6% over the past four years.
The number of employees aged 50- to 64-years-old has also increased by 9% across the same period, from 7.2 million to fractionally under 8 million.
Saga director of communications Paul Green welcomed employees’ ability to choose when they retire instead of being forced out “at the whim of their employer”.
He also urged businesses to see the figures as proof older employers shouldn’t be “written off”.
Chosen excerpts by Job Market Monitor. Read the whole story at HR Magazine – More than one million over-65s in work.
Employees reach their highest average earning potential in their 40s, with a possible salary drop of £400 per year in their 50s, according to research by Friends Life. The research is based on Office for National Statistics (ONS) figures analysed by age and sector. It reveals the average salary for senior managers and directors between … Continue reading
Not only is the American population aging, businesses in the U.S. also are growing older. Older firms are increasingly controlling the largest market share in different sectors of the economy, according to a paper by the Brooking Institution’s Robert E. Litan and Ennsyte Economics’s Ian Hathaway. By 2011, the portion of U.S. businesses aged at … Continue reading
YOUNGER bosses who nag older workers to take redundancies, tell them they\’re too old to receive training or deny them promotion are forcing thousands into early retirement. By also refusing to hire older workers they are adding to the nation’s ballooning health and welfare costs by pushing otherwise productive people on to the aged or … Continue reading
Promoting quality employment for older workers is crucial to boosting growth and ensuring a financially sustainable pension system, according to a new OECD report on ageing and employment policies in France. Working Better with Age in France emphasises that the transition from employment to retirement comes especially early and poses problems for many older workers. …Continue reading
Older Workers in Canada / Over one-half of workers aged 55 to 64 who left long-term jobs between 1994 and 2000 were re-employed within a decade
Many older workers who leave long-term jobs do not fully enter retirement. In fact, over one-half of workers aged 55 to 64 who left long-term jobs between 1994 and 2000 were re-employed within a decade Continue reading
Despite popular belief and media reports, there\’s no evidence that older workers who stay on the job longer squeeze out opportunities for younger employees. That\’s the conclusion of a comprehensive analysis and paper prepared by the Center for Retirement Research (CRR) at Boston College. While there might be some instances of older employees crowding out … Continue reading