I think we are all slowly coming to realise that with the rising costs of living, increase in university fees and the like, we’ll all be needing to work longer in the future. Also, with improving health and people living longer, many want to work and not retire. With the recent removal of the default retirement age of 65, it’s got to be a good thing that employees will be able to choose to work beyond 65 if they wish to.
A recent survey of employers shows this. It indicates that the majority of employers are doing without a default retirement age. The survey of senior HR professionals in the UK, reveals, among other things, that only 3% of employers intend to keep a specific retirement age, 86% of employers are letting employees over the age of 65 continue in the same role and nearly half of employers are considering flexible working arrangements for over 65s.
That sounds positive, but on the other hand, only 11% of employers recognise the potential benefit of retaining experienced employees more easily.
What it does show is a shift in ‘mind set’ which means older employees will find it easier to remain working for their employer well after they reach 65.
- David Sorensen, Partner
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