Half all over 50s want to work past retirement age

London Employers set to sign up to Age Concern’s Business Pledge to change attitudes towards older workers

Half all over 50s intend to work on past retirement age yet 80 per cent have already experienced ageist rejection by employers, according toresearch to mark the launch of an employers’ Business Pledge next Wednesday

Over 3,000 individuals aged 50-plus from across the UK were surveyed by Reed Consulting with Age Concern London.

At least 48 per cent intend to work on past the State Pension Age according to the research, a major shift from the 9.2 per cent of people over SPA age currently in work. While one in ten hope to retire before they reach 60 and over a third plan to retire aged 60-65, a quarter plan to leave work between 65 and 70 and an additional 23 per cent intending to work on past retirement age for as long as possible until forced to stop.

However four out of five people over 50 feel their job applications have been rejected solely because of their age, and nearly half say employer perceptions are their major barrier. One in three even believes ageism begins to prejudice work opportunities below the age of 45.

The research is being launched by James Reed of Reed Consulting at 9am at the London Underwriting Centre in the City of London on Wednesday 24 March 2004, to mark the launch of Age Concern London’s Business Pledge.

Over 50 London employers have committed to attend the launch and sign up to the pledge, which commits them to valuing older workers and helping Break the Age Barrier at work.

In the landmark report, Making Age Work for London, Age Concern London estimates that more than a quarter of a million Londoners aged over 50 and under official retirement levels are currently unemployed but available for work. This represents the largest pool of under-utilised skills and experience available to the London economy, and is equivalent to a full seven per cent of the London workforce.

James Reed of leading HR services company Reed Consulting, comments: Older people are much keener to work on beyond retirement age than in the past. What’s more nine out of ten are committed to further training to ensure their skills meet employers needs.

The major barrier to fully using these skills appears to be out-moded perceptions of what older workers can contribute. Yet employers simply cannot afford to maintain such perceptions into the future, as skills shortages accelerate and demographic shifts drastically cut down the number
of younger workers available.

If the commitment of older workers is fully embraced by employers, it will also transform UK economic prospects. Currently only just over 9 per cent of people work beyond State Pension Age. If this percentage does not change by 2031 there will be three non-workers for every worker, compared to a ratio of 1.1 non-worker to every worker at the moment.

I am delighted to be part of the London launch of Age Concern’s Business Pledge, which demonstrates just how many London companies are not only beginning to realise these facts but are also prepared to do something to change.

David Manion, Director of Age Concern London, comments: This survey demonstrates just how right we are to be concerned about age discrimination in the workplace, with four in five job applicants over 50 feeling they have been rejected solely because of their age.

We are delighted to work with Reed Consulting to make this positive contribution to draw attention to the issue, and thank them and London’s leading employers for supporting the Business Pledge so whole-heartedly.