RegulationDec 29 2014

Governments must rethink retirement: Altmann

twitter-iconfacebook-iconlinkedin-iconmail-iconprint-icon
Search supported by
Governments must rethink retirement: Altmann

More than half of all retired people would like to work, not just for the money but also for personal gratification, research has found.

According to data from the European Union’s Eurofound, across the continent people are being forced to retire even if they do not wish to.

The surveys, compiled in the foundation’s 24-page research paper, Work Preferences After 50, Publications Office of the European Union, showed that 53 per cent of people would like to continue working. Some 56 per cent of people aged between 60 to 69 who have already retired said they wished they were still at work, while 44 per cent of pensioners in their 70s said they wanted to still be employed.

Ros Altmann, the UK government’s older workers’ champion, said that 2015 should bring in a new phase of ‘pre-retirement’ - with part-time work preferred, as many pensioners said they would like to be working part time, or return to work in a mentoring role.

She said: “Employers could consider introducing the concept of ‘gap breaks’ for older workers. This could be a revolutionary way to manage an aging workforce.

“For those who have worked for an employer for many years, who may want or need an extended period of time off, but would like to return to work afterwards, such a scheme could help retain the skills and experience of older employees, while allowing them to ‘recharge their batteries’.”

Ms Altmann pointed to the Australian model, where there is a concept of ‘long-service leave’, where employees who have worked for a company for more than 10 years are entitled to three months’ holiday.

She added: “It’s time to reinvent retirement. As people are living longer healthier lives we must not miss the opportunity to extend working life and boost business and the economy, as well as reducing the burdens of an aging population on future generations.”