Retirement plans up in the air: Report
16th June 2010
A lot of workers in the over 50s category are confused when they consider their retirement as they have not planned well enough for the future, a new study has claimed.
The report for the Institute of Employment Studies stated that many peoples' future hopes had been "significantly" changed by the recession, which had resulted in a lot of older employees, particularly those in their early 50s, being made redundant or job-seekers experiencing recruitment freezes.
"Not only might older workers potentially be an easy target for companies looking to cut costs, but those losing their jobs cannot afford to take the early retirement as they might have done in financially healthier times, " the report added.
Marie Strebler, of the Institute for Employment Studies, said: "Employers seem to be stuck in reactive mode. They provide retirement support, however they are failing to encourage people to stay, treating requests on a case-by-case basis and thus missing opportunities to retain much-needed and valuable skills.
"Older workers are an asset, but a tremendous shift in deep-seated stereotypical attitudes to ageing and work is required if employers want to foster a culture where early retirement and prolonged working lives co-exist."
Copyright © Press Association 2010
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