Raise the Pension Age to 75? Raise the Pension Age to 75?

Raise the Pension Age to 75?
02 Sep 2019

The Centre for Social Justice’s (CSJ) published its report “Ageing Confidently – Supporting an ageing workforce” in August 2019.  The CSJ is an independent think tank established by Chairman Iain Duncan Smith MP the former Secretary of State for Work and Pensions.

 

The long report contains a number of discussions all to do with the fact that the UK has an ageing population.  Because of this, there are a number of considerations for both employers and the government in order to deal with and manage both the expectations of the older workforce and the financial concerns that this brings.

 

The recommendations of the report are contained in chapter 3 and can be summarised as follows:

 

  1. To support and retain older workers, doctors should be better trained in occupational health
  2. Employers should communicate to workers that mental well-being is just as important as physical well being
  3. People aged over 55 should be a “priority group” and the Work and Health Programme should tailor its support towards them
  4. All workers should have the right to request flexible working from day 1 rather than having to wait 26 weeks
  5. The National Retraining Scheme should protect the ageing workforce by introducing Personal Learner Accounts (PLA)
  6. The DWP should make people more aware of the Access to Work scheme
  7. Employers should carry out mid-life MOTs to discuss wealth, work and health thereby helping and managing an ageing workforce
  8. Similar to the “Disability Confident” scheme, an “Age Confident” scheme should be introduced that highlights the benefits an aging workforce can bring employers and
  9. The State Pension Age (SPA) needs to reflect the fact that people are living longer and increase to 70 by 2028 and 75 by 2035

 

Global Payroll Association Comment

 

Obviously the comment about increasing the pension age is the recommendation that received the most publicity.  We wonder, though, if government policy on future pension age increases will be affected by this report, one of many produced by a number of think-tanks in the UK.  There is no legislation that makes plans for an increase past 68 at the moment.

 

However, the report is very good reading and there are points in there that employers may want to reflect on given that an ageing workforce is a reality and one that needs to be managed.

 

The Centre for Social Justice’s (CSJ) published its report “Ageing Confidently – Supporting an ageing workforce” in August 2019.  The CSJ is an independent think tank established by Chairman Iain Duncan Smith MP the former Secretary of State for Work and Pensions.

 

The long report contains a number of discussions all to do with the fact that the UK has an ageing population.  Because of this, there are a number of considerations for both employers and the government in order to deal with and manage both the expectations of the older workforce and the financial concerns that this brings.

 

The recommendations of the report are contained in chapter 3 and can be summarised as follows:

 

  1. To support and retain older workers, doctors should be better trained in occupational health
  2. Employers should communicate to workers that mental well-being is just as important as physical well being
  3. People aged over 55 should be a “priority group” and the Work and Health Programme should tailor its support towards them
  4. All workers should have the right to request flexible working from day 1 rather than having to wait 26 weeks
  5. The National Retraining Scheme should protect the ageing workforce by introducing Personal Learner Accounts (PLA)
  6. The DWP should make people more aware of the Access to Work scheme
  7. Employers should carry out mid-life MOTs to discuss wealth, work and health thereby helping and managing an ageing workforce
  8. Similar to the “Disability Confident” scheme, an “Age Confident” scheme should be introduced that highlights the benefits an aging workforce can bring employers and
  9. The State Pension Age (SPA) needs to reflect the fact that people are living longer and increase to 70 by 2028 and 75 by 2035

 

Global Payroll Association Comment

 

Obviously the comment about increasing the pension age is the recommendation that received the most publicity.  We wonder, though, if government policy on future pension age increases will be affected by this report, one of many produced by a number of think-tanks in the UK.  There is no legislation that makes plans for an increase past 68 at the moment.

 

However, the report is very good reading and there are points in there that employers may want to reflect on given that an ageing workforce is a reality and one that needs to be managed.

 

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