28/06/10
Sixty per cent of over 50's feel that there is not enough help given to them to remain in the workplace after the default retirement age, despite one in three people wanting to do so, according to new research out today.
SAGA and the National Endowment for Science, Technology and the Arts (NESTA) say that two thirds of over 50's (67 per cent) believe a default retirement age is unnecessary. 90 per cent say that retirement should not be about age, but about ability and desire to work and 85 per cent say that the default retirement age is used as an excuse by employers to get rid of staff.
The survey of 13,040 over 50's reveals that rather than being a drain on society in retirement, a third want to continue working after retirement age with a further 12 per cent wanting to contribute to society in some way - either through volunteering or caring.
Emma Soames, editor at large, Saga Magazine, says: 'Our research very clearly shows that a default retirement age is arbitrary for many people approaching retirement and many feel unsupported, particularly if they want to continue working. Moving from full time work to retirement should be a process of winding down - more akin to strolling down to the beach rather than being pushed off the cliff edge.'
The most common reason for working after retirement was to earn money (61 per cent) followed by wanting to keep an active mind (59 per cent) and enjoyment of working (50 per cent). 46 per cent agreed that it should be for the individual to decide when to retire, not the state. 46 per cent also stated that they could not afford to stop working at the default retirement age.
Jonathan Kestenbaum, Chief Executive of NESTA, says: 'Against a backdrop of an ageing society and strained public services older people can contribute immeasurably to the economy and society. Our survey shows that they want choice and flexibility in how they live their lives. We need a radical rethink of how we engage with older people.'
Further research shows:
NESTA's 'Age Unlimited' programme works with people in their 50s, employers and third sector organisations to experiment with new work patterns and lifestyle choices that enable them to continue to contribute to the economy and society. NESTA is working with 11 projects - some are described below - to further this work.
For more information please visit www.nesta.org.uk/age_unlimited
For further information, please contact:
Jan Singleton in NESTA's Press Office on 020 7438 2606, jan.singleton@nesta.org.uk or,
Paul Green, Head of Communication at Saga Group, on 01303 776 023, mobile: 07714 414 859 or paul.green.pr@saga.co.uk
Research
Populus received 13,040 responses from SAGA readers aged 50 and over to its online poll for SAGA between 11 and 17 June 2010.
About NESTA
NESTA is an independent body with a mission to make the UK more innovative to drive economic recovery and solve some of the UK's major social challenges. Our endowment status means we operate at no cost to the UK taxpayer.
NESTA is a world leader in its field and is in a unique position to support innovation through a blend of practical programmes, policy and research and investment in early-stage companies. www.nesta.org.uk
NESTA has also conducted research into the contribution of over 50's to starting new businesses. 'The Grey Economy' shows how, as the population is getting older, the economic contribution of over 50's is also increasing. More people are working beyond statutory retirement age. And more of them are running their own businesses. To read more visit The grey economy third age entrepreneurs critical to growth
About SAGA
Saga has 2.7 million customers and is the UK's leading provider of products and services specifically designed for people aged 50 and over. Saga provides package holidays, cruises insurance, savings & investments, financial advice, domiciliary care. Saga Magazine is read by some 2 million people every month and operates the over 50s social media site sagazone.co.uk.
www.saga.co.uk
RICH Rewards Scheme
The charity Grandparentsplus are developing a reward scheme, which recognises and rewards the vital role that grandparents play in providing significant levels of child care to grandchildren.
Contact:
Sam Smethers, Chief Executive
020 8981 8001
07961 381630
sam.smethers@grandparentsplus.org.uk
Prescribing Volunteering (Petersfield, East Hampshire)
Portsmouth Diocesan Council for Social Responsibility are developing a service that will 'prescribe' a programme of volunteering to unemployed patients in their 50s and 60s through GP practices.
Contact:
Nick Ralph
023 9289 9674
nick.ralph@portsmouth.anglican.org
Act 50:50 (NHS South Birmingham)
The Institute of Health, Design and Technology and NHS South Birmingham are developing a career planning service to enable health professionals such as nurses and radiographers to continue to work after their retirement age.
Contact:
Simon Fielden
SFielden@cad.coventry.ac.uk
Workplace Carers Network
The charity Carers UK are developing a social network for employed carers to enable them to share tips and advice as to how to balance work and caring responsibilities.
Contact:
Madeleine Starr
020 7378 4939
madeleine.starr@carersuk.org
T +44 (0)20 7438 2500
F +44 (0)20 7438 2501
Nesta Operating Company, a company limited by guarantee registered in England and Wales with company number 7706036 and charity number 1144091. Registered as a charity in Scotland number SC042833.
