More older people staying in work

Posted on 13 July 2011

Over the past 20 years, the number of older people remaining in the workforce has increased, indicating that some may require help paying for care.

The proportion of over-50s who have continued working has risen over the past two decades, according to an analysis by the Trade Union Congress (TUC).

It was revealed that 64.9 per cent of 50 to 64-year-olds were employed in December 2010, a sharp rise from the 56.5 per cent in 2010.

Brendan Barber, the TUC General Secretary, stated: "There is a darker side to people working beyond their retirement. Low wages and poor pension provision, particularly in the private sector, mean that many people simply cannot afford to retire at 65."

This follows comments from Moneymagpie.com founder Jasmine Birtles, who said that people are now finding it much harder to save than they have in the past.

She said it is "ironic" that just as it has occurred to people they need to save up, doing so is now much harder due to the rise in living costs.

Posted by Toby Mynott

 

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