CAFE survey — EMPLOYMENT

This is continued feedback on the CAFE group Introduction survey.     ( See previous posts by clicking on ” CAFE Project” in the Tag Cloud. )

71% of participants described themselves as retired.    Only 11% were employed full-time or part-time.     50% were aged under 70 and therefore potentially many more people could  or may have to work in future as Retirement Age rises.    Always provided the economic outlook improves and jobs are available.

Employment

Now that the formal Retirement Age has been abolished, it is likely that more and more older people will continue to work beyond the 60 /65 cut- off that previously existed.   This is further reinforced by the State Pension Age which is to be progressively put back, probably as far as 70 eventually.   Currently the Tax system and some pension rules discourage this, but I expect that to change over the years ahead.

Footnote :-  An App that identifies skills and matches them to opportunities for older workers may be useful.

 

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2 Responses to CAFE survey — EMPLOYMENT

  1. Again an interesting graph, and like the demographics, what is the future expectations of the retired elderly over 68/70 with respect to their own personal finances and mortgage responsibilities.
    How does society in general face this prospect? Does the government of the day in future 2020+? expect every person over 70 to be dependent on the state? Having bought into debt in their earlier years?
    When I was young the younger generation were supported by government for education/vocational training, and family allowances: Now we are all in debt, it is or appears that the goverment want our estates monies completely never mind the teax breaks in IHT.

  2. Employment is an interesting issue. By 2030 for the first time we will have more people over the age of 65 than under 16.
    Historically the make up of our society has been a bit like this…for every one young person in society there has been one older person…and this is known as the Age index ratio – but by 2050 this will rise to 2:1 in many European countries – that means for every one person under 15 yrs there will be two people over 65.
    The major issue then is that we have a reducing number of people contributing to pensions (the squeeezed middle) and people drawing on their pensions for longer – the numbers just don’t add up.
    But most people don’t want to work full time in their later years and so we need to look at more flexible ways of working and ensure that pension schemes encourage people to continue to work in their later life. We need to reinvent the concept of retirement.

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