Responding to Steve Webb's announcement, Saga says retirement should be flexible

Wednesday 1 October 2014

Commenting on Steve Webb’s announcement about the contribution that the over 65s who continue in work make to the economy, Saga’s director of communication Paul Green commented:

Responding to Steve Webb's announcement, Saga says retirement should be flexible

“The abolition of the default retirement age has had a huge, and incredibly positive impact on the lives of many older workers.  Rather than being turfed out of the work place due to an arbitrary age limit, employers now have to be more flexible and allow for a period of part-tirement, where people can balance the desire to retire with the need to continue working.

“In fact, our research has shown that 40% of those who feel they need to work past state pension age are planning to reduce or change the number of hours they work, and for many this is because they simply enjoy working.  However, there are also a large number of people who feel forced to do so as a result of pensions not meeting their expectations.  

“However, whether their decision to continue working is driven from necessity or choice, it’s good news for the economy as our research clearly shows that older consumers spend a greater proportion of their income, and in doing so help create more jobs across the board.”

Ends

For further information please contact Lisa Harris on 01303 774716

 

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