Too old to work, too young to retire

When do you plan to retire? This may be a pertinent question for some of you- and perhaps too far away for others to contemplate. Nonetheless, it's an important question for all, regardless of your age. Here I explore a recent example of age discrimination and go on to explore the implications of this very current topical and political issue.

Jobs Board Indeed recently attracted much indignation through a graphic which showed those aged between 45-55 were represented as in 'late career' and those aged 55-65 to be 'in decline.'

On LinkedIn, Sarah Taylor Phillips 'outed' Indeed for this shameful display of blatant ageism, and later reported that Indeed had apologised and subsequently removed the post. Victoria Tomlinson FRSA Tomlinson contacted the FT, who featured an article on the topic.

A perfect storm is currently brewing, with the following factors to consider.

1.? The age at which you can draw your state pension

This is gradually increasing from 66 currently to 68 to those born in 1977. By Indeed's calculation, with those aged 55-65 already in decline, there could be a gap of several years between your ability to secure work and to draw your state pension. Whilst Indeed has withdrawn its post, are we to trust that the Jobs Board doesn't directly or indirectly discriminate on grounds of age as a platform? What about other jobs boards and recruiters themselves?

2.? The number of older workers actively seeking employment

According to Govt Statistics 'older adults are more likely to be long-term unemployed (12 months plus) compared to those aged 35 to 49, with 37.5% of those aged 50 to 64 being long-term unemployed compared to 21.0% of those aged 35 to 49.' These figures don't include workers over the age of 65. While there is no lawful requirement to stop working until you choose to do so, it would have been interesting to know how many people over 65 were also looking for work.

3. The current Government's attitude to pensioners

Many of the current proposals for the forthcoming budget directly target those perceived to be the wealthiest. The removal of the winter fuel allowance was just the appetiser; what will follow? It's likely that tax relief on pensions will be targeted. For many this will discourage people from saving as much into a pension pot. Might this mean a shortfall later on? The forthcoming increase in the state pension means that many pensioners will be pulled into a higher tax band- a stealth tax, with Labour giving on the one hand and taking away with the other. This may disincentivise some older workers who would like to work from returning to the labour market.

4. Final salary pensions.

Few workers still enjoy the certainty and security of a final salary pension. These are generally the preserve of public sector employees. Company pensions can feel a bit like the wild west with no guarantee of exactly what you'll get at retirement. Will they pay enough to meet your needs over your lifespan?

5. We are living longer- but employers' attitudes need to change

In 'The 100 Year life: Living and Working in an Age of Longevity,' authors Lynda Gratton and Andrew J. Scott share research that shows that those in their 60s and 70s are just as likely to invest in staying fit and continuing to learn than those in their 20s and 30s. That's the good news. However they also state that 'it seems our understanding of what it means to be fit and productive across a long life is changing faster than the stereotypes of what it means to be old.'

Dr Lucy Ryan in 'Revolting Women: Why midlife women are walking out' illustrates this, describing examples of workplaces which reinforce youth culture and where employers are implicitly or explicitly ageist in attitudes and behaviours.

There is much work to be done in addressing negative stereotypes around age and ageing as these contrary views collide. On a positive note, The Work Foundation has been researching multi-generational workforces, with business leaders agreeing that companies benefit from a diverse range of perspectives.

6. There are labour market shortages in the UK

There are currently job vacancies which could be filled by older workers, if recruiters are willing to be flexible. There are tensions currently with some recruiters wanting a return to 100% in-workplace working vs a preference from many employees and job applicants to work more flexibly. Not all older workers will want to work full time but many could offer invaluable skills and experience. Some may choose to draw their pension and limit the hours they work in order not to tip into a higher tax bracket.

7. Work is good for you

Back to 'The 100 Year Life'. Work is good for you. It provides mental stimulation and an opportunity to contribute and connect with others. It enables you to have more choice over your lifestyle and contributes to your health and wellbeing.

8. Employing older workers is good for the economy

If people are living longer and healthier lives and work supports this- then the strain on the NHS and care system are reduced. This is surely a win-win for all. The Govt needs to ensure older workers are supported into work if they can work and wish to do so, by providing appropriately skilled careers professionals to facilitate this. It would not take long to reap the economic investment by providing careers guidance as this report illustrates.

Ageism is the last taboo

Indeed's post and the implied message contained in it is disturbing. Play your part by challenging ageism where you come across it in the workplace. Employers need to be mindful of generalisations and assumptions about older workers and think of more creative ways of filling job vacancies.

No Government has invested adequately in providing retraining or careers support for adults. In order to 'grow the economy' - Labour's election mantra-the current system is clearly not delivering on outcomes and should be a priority.

Future posts will focus on the many benefits older workers have to offer recruiters.? I'll also share careers resources available to support and encourage those keen to continue working post-retirement.

First published on www.thecareercatalyst.co.uk

Sign up for my weekly posts www.thecareercatalyst.co.uk