Employers Urged To Recognise Changing Attitudes To Retirement

Study Reveals Increasing Desire To Continue Working

09.05.2012


New research which shows that many people would be happy to continue working after reaching 65 demonstrates how employers need to ensure their systems reflect changing workplace attitudes, according to an employment law expert at Irwin Mitchell.

Figures from Prudential’s Class of 2012 study have revealed that 40 per cent of people who are set to retire this year would like to keep working if possible, with both men (48 per cent) and women (32 per cent) showing a willingness to do so.

Nearly 70 per cent of those keen continue working want to in order to stay health and active, with 54 per cent adding that they enjoy working.

Glenn Hayes, a Partner and employment law specialist at Irwin Mitchell’s Leeds office, said that such figures highlight how attitudes towards working past retirement age have transformed over recent years. However, he added that further factors may have played a part in many people wanting to work past 65.

He explained: “With an ever ageing population, the near extinction of final salary pension schemes and the current economic climate, a lot of people are not being able to afford to retire when they so wish.

“In addition many people are now working longer because it is easier to do so with the introduction of more flexible working patterns and practices and the evolution of technology in the modern workplace.

“As a result employers are increasingly seeing the age of their workforce rise, particularly given the abolition of the Default Retirement Age. This means that they need to ensure they have good performance management and appraisal systems in place to manage expectations and performance.

“The world of business is changing and a failure to adapt could leave employers facing consequences in the future.”