Prudential says more workers to continue beyond 65
Thu, 12 Nov 2009
The number of people working beyond retirement age is expected to double in the next ten years, according to a new study.
Research conducted by Prudential shows that businesses in the UK are expecting the number of staff delaying retirement to reach 1.8 million by 2019 – 6.3 per cent of the UK workforce.
Larger companies expect to see an even greater proportion of their employees working beyond retirement, with more than a third of finance directors at larger firms expecting to have to accommodate such requests.
Commenting on the statistics, Andrew Harrop, head of policy at Age Concern and Help the Aged, said the number of professionals working past state pension age is bound to increase further as people live longer and healthier lives.
He added: "Working into later life will bring many benefits to our economy and to the individual, but this will only be achieved if employers are willing to adapt to older workers' changing needs.
"For example, instead of the current retirement cliff-edge, the ability to scale-down hours gradually towards retirement would be helpful."
Mr Harrop added that the government needs to scrap the Default Retirement Age to leave older workers free to plan their retirement in their own time.
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