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Expert opinion: Pension age increase – why working longer might actually be good for us

Written by Peter Jones on .

Peter Jones of The HR DeptPeter Jones of The HR DeptNew research suggests people may benefit from working past retirement, especially office workers, teachers or skilled workers.

With the government recently saying the state pension age will now rise to 68 between 2037 and 2039, it’s becoming increasingly important to look at the impact of working into older age.

Researchers in the US have now suggested that some form of work, whether it be part-time or self-employment, can keep people mentally and physically healthier for longer.

Work provides social interaction and a feeling of worth. The old saying ‘use it or lose it’ is ringing more true than ever.

A Mercedes-Benz plant in Germany found that older workers were actually more productive. With their experience and ability to work in teams, they were better at fixing problems quickly.

People over 50 have often struggled to find work if they have been made redundant. Or having tried retirement for a year, realised there is only so much gardening you can do.

B&Q have long been a champion of older workers, praising their customer service skills and loyalty. Now they are joined by M&S, Sainsbury’s, Barclays and Aviva, who are recognising we may have a skills shortage after Brexit and are actively targeting this age group.

Not everyone takes it easy into old age. President Trump is 71, Prime Minister Theresa May is 60 and Jeremy Corbyn is 67. Some jobs and companies won’t have the right environment. But if all else fails, they could always go into politics!

Peter Jones runs the HR Dept in Swindon and Wiltshire, and offers cost-effective, hassle-free, expert advice on auto enrolment.