With the recent confirmation that the government are to axe the retirement age this morning, I received virtually the same time this study on 3,000 employed workers on their views of the changes in retirement. So it seemed very fitting to post here on Recruitment Views, mind you I am not sure if I want to work till I am 70 but of course we may have to given the short falls in our pensions of course.
I would be interested to know other people’s views so feel free to comment below, in particular how it will impact on the recruitment industry.
The Government has announcement its intention to scrap the default retirement age of 65 but plans to extend the state pension age have been met with dismay by the majority of the British public. In fact, 65% say they can’t imagine anything worse than having to work until they are 70, according to research by distance learning provider Home learning College*. This sentiment peaks amongst 45 to 54 year olds, with 73% rejecting this idea.
‘Three score years and 10’ was once deemed the average life expectancy in western countries. This has increased to 80, according to World Bank figures, but that still only leaves 10 years for most people to enjoy the fruits of their labours.
Men are slightly more likely to welcome the idea of an increased state pension age, with 38% saying they would love to think they’ll still be working at 70. Only 32% of females shared this attitude. However, given the choice, 52% of men would like to retire by the age of 55, compared to just 44% of women.
Further research by Home Learning College suggests that having a new professional focus could make the idea of retiring later more attractive. Almost two fifths (39%) of those surveyed said they would want to change career if they thought they would have to work until they are 70.
“It’s never too late to start a new career,” says Dave Snow, Academic Director at Home Learning College. “As we progress through life we gain a wealth of proficiencies and experience that can be transferred to other roles. This knowledge can also be enhanced through targeted vocational study.
“Our own figures show that a strong interest from older students who wish to update their skills and re-training for completely different roles. For example, a quarter of people on one of our popular web design courses are aged over 55. Accounting and bookkeeping courses are also in high demand among this age group thanks to the opportunities for flexible working available to professionals in this sector.
“Clearly, a large number of people are investing in continued learning in order to stay competitive in today’s challenging economic climate. It is this attitude and commitment to further study that will make working beyond the official retirement age tolerable and hopefully even pleasurable.“
For details of all Home Learning College’s professionally accredited home study courses please visit www.homelearningcollege.co.uk
*Research conducted amongst 3,000 British adults in employment
About Home Learning College
Home Learning College is the largest vocational distance learning provider in the UK, and is accredited by the National Union of Students (NUS), allowing its 65,000 students to enjoy the discounts and services available with the NUS Extra Card.
All Home Learning College courses lead to professional CV-enhancing, employer recognised qualifications, including AAT, Sage, CompTIA, Microsoft, ICB and CIW. Subjects covered include book-keeping, accounting, IT and computing, web design and many more.
Home Learning College students benefit from a dedicated in-house tutoring service and the Virtual Learning Community – an online learning environment which facilitates the delivery of course material and peer networking.
For more information on all Home Learning College courses visit www.homelearningcollege.co.uk
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