Employers failing to adapt to needs of older workers

Employers need to step up their support of older workers, as 63% of over-50s in work are planning to retire later than they thought expected to 10 years ago, according to a report from Aviva.

Many older workers - defined as those aged over 50 - told the researchers that they are extending their working lives due to the rising cost of living (40%) and insufficient pension savings (38%).

Despite this, more than two fifths (44%) of people aged 50+ still in work feel unsupported by their employer when it comes to their career ambitions and objectives, compared to only 25% of those aged 25 to 34 – suggesting organisations could be doing more to help.

Lindsey Rix, Managing Director, Savings and Retirement at Aviva explained that millions of people are facing up to the realities of longer working lives. “Working for longer brings opportunities and challenges in many areas of life, which means that supporting staff beyond the age of 50 has to become about much more than just financial planning,” she said.