Businesses urged to do more for ageing workforce

CALLS have been made for increased support for older people in the workplace, after new research found 6.4 million over-50s are working past retirement age.

Research by insurer Aviva suggests that almost two-thirds (63%) of 10.2 million people over the age of 50 who are in employment, are planning to retire later than they thought they would 10 years ago, with 44% of employees over the age of 50 feeling unsupported by their employer when it comes to their career ambitions, compared to 25% of those aged 25 to 34.

The study found that the reasons why older employees are extending their working lives include the rising cost of living and insufficient pension savings.

With a third of the UK workforce set to be aged 50-plus by the 2020s, the research also indicated that employees aged over 50 are more confident about keeping up with the changing workplace and having relevant skills, than those aged 25 to 34.

The company recently piloted a mid-life MOT for staff to help give them a greater sense of clarity and control over the choices they face beyond 50. Aviva plans to use the findings from this pilot to help inform discussions with government and the business community about how best to support older employees.

Lindsey Rix, managing director, of savings and retirement at Aviva, said: “Our ambition is to help create the right conditions for people to see opportunities through the uncertainties that come with longer working lives.”