Pensions  

Number of working women aged 50-64 hits new record

Number of working women aged 50-64 hits new record

Older women are more likely to be in employment than at any time in the past 30 years, according to figures from the Department for Work and Pensions.

Statistics showed the proportion of women aged between 50 and 64 in jobs reached a record high in 2015 of 64.2 per cent.

This compares to just 41.9 per cent of women in this age group who worked in 1985.

Pensions minister Baroness (Ros) Altmann said: “In the past, society was too quick to write people off once they reached a certain age, but it is clear that things are changing – and about time too.

“It is vital that we continue to harness the potential of older workers, and employers in Britain need to take action on this.”

The figures also showed the employment rate for people aged over 65 has doubled over the past 30 years, from 4.9 per cent to 10.2 per cent.

Giles Martin, head of Halifax Savings at Lloyds Banking Group, said: “Despite the economic outlook brightening, there are lots of financial pressures facing families, and planning for the long term, as well as the short term, is key irrespective of gender or income.”

Adviser view

Ruth Whitehead, a financial adviser with London-based Ruth Whitehead Associates, said: “One of the reasons why women are working longer is because they have to. It is still the case that women will have been the ones staying at home and missing years of employment and pension contributions.”