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Expert: Pension changes have caused Britons to work for longer PDF Print E-mail
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Latest Recruitment News - Office Recruitment News
Written by DirectNews Feed   
Tuesday, 15 March 2011 00:00
Expert: Pension changes have caused Britons to work for longer More people are opting to stay in office-based roles such as accountancy jobs in the City of London until later in their lives due to the changing social and business landscape in the UK.

That is the view of Rachel Krys, director at Inclusive Employers, who has said that the way in which the country's pension system now operates is encouraging lengthier careers.

Ms Krys explained that the decline of final salary pension schemes - coupled with the increasing cost of higher education - has caused Britons to realise that they need a regular income for more time.

"Whereas ten years ago you saw more people in their 50s and 60s with final salary schemes, fewer people are doing that now, so they are having to work for longer," she said.

Research published by LV= yesterday (March 14th 2011) showed that 24 per cent of over-50s would have saved more into their pension schemes had access to their funds been more flexible.

Posted by James Strang
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