Every month or two, another survey is published or a statistic released that reinforces the now received wisdom that many of us will need to keep working for longer than we may have planned in order to be financially secure in later life.
Staying in work for longer is certainly beneficial to the individual’s pockets, but it’s also in the government’s interest to support people to work for longer. The longer we can be working and earning, the more we’ll boost tax revenues and the economy, and reduce our chances of needing to access benefits or pension credit. Enlightened employers are also gradually coming around to the view that lifetime’s worth of expertise and experience will be sacrificed if they fail to retain and recruit older workers.
Despite this increased awareness, we still have an estimated 800,000 people aged 50 and over who would like to be in work but are not – and MPs themselves have branded this an “unacceptable waste of talent”.