Friday, January 25, 2008

United Kingdom: Survey Shows Workers Becoming More Interested in Working Past 65

Nearly 2 in 5 workers (38%) currently aged 50 to 64 plan to carry on working beyond 65, according to a survey conducted by Chartered Institute of Personnel and Development (CIPD). This would represent a significant increase, as currently only 11% of the United Kingdom workforce work beyond State Pension age.

In addition, the survey found that of those who are not planning on working past 65, 31% would change their mind if their employer allowed them to work flexibly and another fifth say that they would be tempted to carry on working past 65 if they were offered a deferred larger state pension.
Charles Cotton, CIPD reward adviser, "On one level the survey findings look very positive, in that they show a strong demand for working beyond retirement age that is as much down to financial as other reasons such as individuals wanting to use their skills and experience. However, it is clear that Government policy could do more to encourage more older workers to stay on by extending the right to request flexible working beyond parents and carers and making pension arrangements more flexible."
Source: Chartered Institute of Personnel and Development Press Release (January 25, 2008)

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