With the state pension age rising from 67 to 68 between 2037 and 2039 – seven years earlier than planned – careers will inevitably need to last longer than ever before.
Research has found the over-50s are setting up businesses faster than any other age group, contributing £119bn to the economy. A recent survey conducted by the Centre for Economic and Business Research found that 45% of all self-employed people are now over the age of 50 and that, as a group, they contribute more than £119bn to the UK economy every year. They are setting up businesses faster than any other age group and employ nearly 10 million people – almost 2 million more than the under-50s.
In the Gatwick Diamond, Horsham, has an ageing population and house prices are high making it difficult to retain young people in the district and for businesses to attract skilled employees. There are opportunities to encourage these older workers to remain in the workforce if local firms adopt progressive employment policies, and if re-training opportunities are created.
The topic of older workers is one which we expect to covered during the Gatwick Diamond Skills Summit taking place at Canon UK in Reigate, Surrey on 9 March 2018.