There are many reasons why older people want to keep working. These could be financial, such as the need to boost their income for a potentially long retirement, or to continue supporting members of the family. They could also be social and emotional; the cliff-edge nature of retirement and how this affects wellbeing and increases loneliness, is well-known.
So, by staying in work longer, people in later life are less likely to fall into poverty and suffer from social isolation, both of which impact on their health as well as quality of life. And, of course, they will also continue to contribute to the economy.
But that doesn’t mean older workers want to continue to work at the same pace or for the same amount of hours a week. Indeed, one in four UK workers feel they could not do their current job over the age of 60. There are also significant age biases in recruitment and within the workplace, as shown in research by the Policy Exchange.
And, unsurprisingly, older workers frequently have health conditions and caring responsibilities, which can cause them to exit the workforce earlier than they choose to. According to DWP, 44% of people aged between 50 and state pension age have at least one long-term health condition, and one in five women in their 50s are carers. That doesn’t mean they can’t work; but they might need to work a bit less, or in a different way.