Number of older workers set to treble by 2017

UK employers need to prepare for an ageing workforce, as 78% of employees anticipating working beyond the age of 65 years,†

Currently, an estimated one million employees are working past the state pension age, but this is expected to treble among those aged 65 to 70 years by 2017, according to Aon Consulting. The report also found that a quarter of respondents would carry on working past the official retirement age simply because they wanted to, whereas 53% believe it will be necessary to increase their pension.

Regionally, Newcastle-based workers were most committed to topping up their pension (57%) while less than half (49%) of Scottish employees were willing to carry on working to achieve this.

Jon Beaumont, HR consultant at Aon, said: “An ageing workforce is inevitable with an estimated three million people likely to be working beyond their retirement age within 10 years time. This could be a huge benefit to organisations, so long as the key challenges are tackled sooner rather than later. Businesses used to think that older workers could not drive companies forward but this old fashioned attitude needs to shift.

“Effective performance management will be the key discipline in making an ageing workforce into a competitive advantage.”†