This guest blog was contributed by Chris Ball, Chief Executive of TAEN, The Age and Employment Network.
The idea of a given ‘retirement age,’ when most people abruptly cease work, may soon be a thing of the past. While it is important not to exaggerate this trend, we can’t just ignore it.
Every day, it seems, the media carries stories about how people will have to work longer. Sarah O’Grady recently wrote in the Daily Express under the headline, ‘Millions must work forever.’
A sense of proportion is important. Currently more than 90% of people over 65 are not in work and the majority are retired. Of those over 65 who want to work, most are concentrated in the 65-70 age bracket.
However as the state pension age rises, if finances become more difficult and if more employers create age friendly workplaces, we may see more people working much longer.
Nobody has a clear picture of how many pensioners would prefer to be in work. Not entitled to claim unemployment benefit or support from Jobcentre Plus, it seems once claiming the state pension, one is forgotten as a worker. Continue reading
Posted in Employment, Work and Learning
Tagged Age and Employment Network, Age UK, Age UK blog, ageing society, Employment, jobseekers, older jobseekers, older people, over 50, retirement, retirement age, TAEN, The Age and Employment Network, University of Edinburgh Business School, work and learning, workforce, working
There’s one last opportunity coming up for MPs to introduce changes to state pension age in a fairer way. The Pensions Bill currently before Parliament brings forward increases to state pension age. It would equalise men’s and women’s state pension age at 65 in November 2018, and then raise it to 66 by April 2020 – six years early than planned. This would result in nearly 5 million people having to wait longer than expected to draw their state pension. Among these are 330,000 women who will have to wait 18 to 24 months longer. At Age UK we believe these changes are happening too quickly without giving people time to rework their retirement plans.
We are currently awaiting a date for Report Stage and Third Reading in the House of Commons – the final opportunity for MPs to make changes. This could be in the week starting the 12 September.
We are encouraged that Secretary of State for Work and Pensions Duncan Smith, has said he wants to implement changes fairly and get the transition right. We are urging the Government to reconsider the position and at the very least introduce measures to protect those who would be most affected. For more information and details about how to get involved see http://www.ageuk.org.uk/get-involved/campaign/state-pension-age-campaign/