Social revolution hailed as employment rates for pensioners double in 16 years

EMPLOYMENT RATES for the over 65s have doubled since the turn of the century, with more than 1.1 million employees over the state pension age, according to Government research published last night.

Women hit by a rise in the state pension age were among one of the groups that accounted for a significant rise in older workers, according to the study.

It found the proportion of women aged 60-64 – the group hit by a higher retirement age under the coalition – working went up by 15 per cent to 40 per cent in the two decades to 2015.

Among men of the same age, there was a 13 per cent increase, the Department for Work and Pensions report found.

Former pensions Minister Baroness Altmann insisted the figures show a “social revolution” is under way that will benefit millions of older people by improving their incomes and quality of life.

She said: “People are not necessarily old, in a conventional sense, at age 50, 60 or 70 and are increasingly choosing to keep working. This can be good news for them, good for their employer and the economy too. It will boost their lifetime income and can also be better for their health and general well being.

“Of course, it is also true that some people cannot work longer, or feel forced to go on when they would rather stop, but this is the minority.”

The unemployment rate for people aged over 50 has dropped to 3.3 per cent, the lowest level since 2009, according to the report.

Employment Minister Damian Hinds said: “It is clear that people over 50 aren’t slowing down or getting ready for retirement. I want to see businesses supporting this momentum while also reaping the benefits of the skills and expertise these older people can bring to the workplace.

“People in later life are increasingly looking to stay in work and it is important that more businesses look for ways to support them.”