Government messages on retirement falling on deaf ears

Attitudes to work, retirement and pensions are not linked to age, according to new research from the Employers Forum on Age (EFA). Its report, Attitude not Age, reveals that Government needs to wake up to peopleís aspirations and work life experiences in order to influence pension saving and retirement decisions. The finding is a stark warning to Government in advance of the introduction of age discrimination regulations in October 2006.

The report suggests a ëone-size-fits-allí approach by the Government and employers to tackle working for longer and retirement will be ineffective. The EFAís research reveals four types of worker (Rooster, Workhorse, Sheepdog and Cat), whose attitudes are determined less by their age than their education, skills and the type of work theyíre doing.
The EFA finds that messages on working for longer currently appear to have little impact on the four groupsí plans for retirement.

EFA research reveals:
31% of the workforce is focused, flourishing (Rooster), well educated and happy. Despite this, they want to leave work and retire as soon as possible.

In contrast, 21% of the workforce feel undervalued and unfulfilled (Workhorse). This group is unhappy at work. Naturally they look forward to retirement (only 3% are happy to work until they are 70).

27% of employees are conscientious but cautious (Sheepdog). They see work as a significant part of their social life. The idea of stopping work to retire doesnít make sense but many feel that the physical nature of the jobs they do will prevent them from working longer.

21% have an easy-come, easy-go (Cat) attitude to work. They are laid back, confident and successful at work, and very much ëgo their own wayí. They are likely to have a similar attitude to retirement.

Ms Sam Mercer, director of the EFA comments:

ìOur research reveals that age is irrelevant when it comes to peopleís attitudes to working for longer ñ over half of all workers want to retire as soon as possible. This should worry Government, given the need to extend working life to counter our ageing population and the looming pension crisis. The workforce is made up of four groups with diverse aspirations. Government and employers must understand what motivates people so they can influence individual decisions about work and retirement. Smarter communication and offering tailored incentives to each group will be essential. We must recognise that people are different before we start talking about everyone working until they are 70.î

Released on behalf of the Employers Forum on Age by CHA. For further information and a copy of the report, Attitude not Age, please contact Lizzie Barrett at CHA on 020 7622 8252.