Friday, July 20, 2007

Older Brits work longer

The proportion of people working past the state pension age is running at record levels.

Men above 65 and women above 60 accounted for just under half of the 180,000 rise in employment during the 12 months to the end of May (Office for National Statistics).

The head of The Age and Employment Network, said: "Our impression is that many people are accepting jobs below their qualifications and capacities, often out of economic necessity - many stay in work beyond state retirement age because of the decline in incomes from defined contributions pension schemes”.

So are Brits working longer because they have or want to? As they dash into their 60s are they starting new and fulfilling careers or filling shelves in the local mall?

As usual the truth embraces all of these scenarios. My guess is that there are a few more people re-stocking shelves than becoming oldie entrepreneurs. Dick Stroud

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