Recession means older employees cannot retire when they want
David Woods, 26 May 2009
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Six out of 10 employees aged 50-plus think they will have to work longer than they intended to ensure an income in retirement.
Research from Help the Aged and Age Concern found 47% of workers aged 50 or older are less confident their pension and savings will provide them with a comfortable standard of living in retirement than six months ago.
And 28% think they will be forced out of their jobs if their employer cuts headcount because of the recession although 87% think they should have the right to continue working after age 65. But 15% of employers plan to use mandatory retirement to reduce headcount.
Michelle Mitchell, charity director for Age Concern and Help the Aged, said: " It is economically unwise for employers to force people who want to work out of a job just because of their age. Older workers make a huge contribution to the economy and will have skills and experience needed to boost recovery when we come out of recession."
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