Saturday, September 13, 2008

Survey: Flexible, Delayed Retirements on Increase in United Kingdom

As part of CBI (Confederation of British Industry)/Pertemps Employment Trends Survey on telework and flexible work, CBI reports that the United Kingdom is experiencing a growth in flexible retirement. Specifically, in 2007, 31% of employees reaching retirement age asked if they could postpone their retirement. Employers granted 81% of those requests were granted, which CBI points out is still significantly lower than the 95% of flexible work requests from parents which are accepted.
Employers continue to face challenges when assessing requests to postpone retirement, and it is essential to keep a default retirement age as a trigger for discussion.

[John Cridland, CBI Deputy Director-General] said: "Many older workers do not want to retire, or do not feel financially secure enough to do so, particularly with the downturn in the housing market. In the majority of cases employers are very happy to retain older staff, who often have invaluable skills and experience."
Source: Confederation of British Industry Press Release (September 8, 2008)

Additional Reading: The Times "It is no time to retire as the gloom deepens" (September 8, 2008)

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