South: Over 55s braced to work for longer 'to stay mentally fit'

Older workers (55-plus) in the UK are bracing themselves to continue working until they are 70 years old, according to new research by the CIPD, the professional body for HR and people development.

In a survey of more than 1,600 UK employees, more than a third (37%) of all workers believe they will have to work past the widely accepted retirement age of 65, a figure which jumps to 49% among workers over 55 years old. Among those who predict they will work past 65, the average age they expect to actually retire is 70.

The most common reasons for employees wanting to work past 65 are that many people believe it will keep them mentally fit (32%), followed by a desire to be able to earn enough money to continue to enjoy themselves, for example by going on holidays (27%).

However, the research has also found that many employers aren’t doing enough to support older workers in the workplace. Just one in four (25%) employees believe that their employer is prepared to meet the needs of workers aged 65 and over, demonstrating how much work organisations need to do in order to prepare for the increased numbers of older workers in the workplace.

Charles Cotton, pay and reward adviser at the CIPD said: “It’s shocking that, despite a large proportion of UK workers planning to work past the age of 65, employers are so underprepared to meet the needs of a maturing workforce. Older workers offer vast experience and knowledge, and can also act as mentors to young people in the workplace. To reap those opportunities, employers need to start reviewing and adapting their people practices as well as the design of the organisation, jobs and work to ensure that they are fit for the new purpose.

“Previous CIPD research has shown that multi-generational workforces are of huge benefit to organisations. It is very positive to see that employees are also recognising that remaining at work can help their well-being by helping them to keep mentally fit. In return, organisations have a duty to build workplaces that enable talented older workers to continue to work without facing organisational barriers.”