‘Seismic shift’ as more women in their 60s work
Change in state pension age has impact
THE NUMBER of women working in their 60s has increased dramatically after the state pension age was raised, a study has revealed.
Campaigners described it as a “seismic shift” in the demographics of the nation’s workforce.
There has been a 51 per cent increase in the number of female workers in their 60s since 2010, when the new pension age of 65 came into effect, according to research by Rest Less, a jobs, volunteering and guidance site for the over-50s.
The study has shown that there were 644,674 women aged between 60 and 64 in work at the end of 2009, but in the same period in 2019, the number was almost one million. This contrasts with an increase of 127,882, or 13 per cent, in the number of men working aged between 60 and 64 over the same period.
The founder of Rest Less, Stuart Lewis, said: “The rapid instate
crease in the women’s state pension age since 2010 has had a profound impact on women in their 60s. The employment rate of women aged between 60 and 64 has increased from 34 per cent to 51 per cent in just 10 years.
“As well as adjusting to the financial implications of the new pension age, the added frustration for many comes from the continued challenge to find meaningful work in their 60s when age discrimination in the workplace remains all too prevalent.”
Patrick Thomson, a senior programme manager for fulfilling work at the Centre for Ageing Better, claimed that the changing make-up of the nation’s workforce presented both benefits and challenges.
He said: “For the first time in the UK there are more women aged 60 to 64 in work than not. This is a seismic shift, with profound implications for the economy and for women in later life.
“For many women this will be a positive choice, with work providing financial independence, an opportunity to save for retirement, meaning and purpose.
“For others this will be the culmination of inequalities that have built up over a lifetime, remaining in low paid, insecure or poor quality work and delaying retirement through financial necessity.”