Forties People

Britain has been urged to rethink its attitudes towards having people aged 50-plus in regular jobs.

George Magnus, senior economic adviser at UBS Investment Bank, said the UK has to "reboot its ideas" about how it adapts to ageing.

This, he said, could include taking a new approach to jobs, occupations and compensation structures for people aged 50-plus that reflects changing needs and priorities.

"We all need to think more flexibly," Mr Magnus insisted.

He said there needs to be a "wide-ranging and inclusive" debate about how businesses and the public can play a positive role.

Mr Magnus added that nobody is suggesting that people should be compelled to work into their 70s.

However, he said people should have the option if they do wish to do so, especially as it could help their financial and psychological wellbeing.

This comes amid an ongoing debate about whether or not the default retirement age should be scrapped.

Equality minister Harriet Harman recently told the Daily Mail that the retirement age is an "arbitrary" figure that does not reflect people's ability to do a job.