This week the government has announced goodbye to compulsory retirement at 65 as of next year. It’s difficult to imagine why anyone would want to carry on working other than for money reasons. Some people claim to love their jobs and others don’t know what to do when they’ve retired.
The biggest reason against carrying on is that it is keeping younger people either out of a job or blocking a rise to promotion. In many cases older people are likely to have old attitudes, some of which might be good but many are probably not the way of todays world.
The average life expectancy is rising so people are retired longer and pension schemes are struggling to cope. Also as the ‘baby boomer’ generation goes out of the workforce there will be a glut of pensioners. Simultaneously there will be a drop in the workforce unless others are brought in from outside the UK. Yet there is unemployment of over 2million so how can there be a shortage of workers and if they have the wrong skills they must be being given poor guidance on training choices.
Overall removing the compulsory retirement age appears a good thing to enable people enough time to pay for their pensions for a shortened retirement period.