· 1 min read · News

Recession means older employees cannot retire when they want


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."