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| 55% of older workers 'expect to never retire' |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Monday, 02 August 2010 00:00 |
 New research has shown that over half of the country's older workforce in roles such as accountancy jobs in the City of London do not expect to ever be able to retire completely.According to data collated by HSBC from 2,000 people over the age of 50, 55 per cent of this cross-section of society indicated that quitting work altogether was unlikely because they needed to earn more money during their retirement. This research came following the Conservative-Liberal Democrat alliance's announcement last week (July 29th) that the default retirement age of 65 is to be scrapped altogether from October 2011 following a six-month period of phasing out, which is scheduled to begin next April. Furthermore, the study found that one-third of these older workers had decided to switch careers in order to remain in work longer. David Wells, head of pensions, savings and investments at HSBC, said that many senior workers are now embracing the requirement for them to stay in their jobs for longer and are "pursuing the careers they have always wanted". Posted by Mary King 
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