Older workers at record level

The number of people aged 65 and over in employment has reached one million for the first time, Office of National Statistics (ONS) figures have revealed.

The ONS said the rise is partly due to more people staying on in work and also more people of this age group in the population.

For the three-month period ending April 2013, both the number of people in work and the employment rate for those aged over 65 were the highest since records began. The number in employment was 1,003,000 and the employment rate was 9.5%.

Jim Hillage, director of research at the Institute for Employment Studies, said: “While these figures reflect a willingness among employers to recruit and retain experienced people, it may also reflect the need that some older people have to top up inadequate pension arrangements.”

Graham Vidler, director of communications and engagement at the National Employment Savings Trust (Nest), added: “That so many older workers continue out of financial necessity should be a wake-up call about the state of the nation’s current retirement plans.

“Too many people still have no choice about whether they can stop working or not when they reach retirement age.”

The charity Age UK welcomed the news, saying the figures represent a sign employers are “recognising the value of older workers”.

http://www.ons.gov.uk/ons/rel/lms/labour-market-statistics/june-2013/statistical-bulletin.html

www.employeebenefits.co.uk/benefits/workplace-savings/employers-should-look-at-benefits-for-rising-number-of-older-workers/102252.article

www.hrmagazine.co.uk/hro/news/1077481/a-record-million-65s-employment