Age UK: Older adults want to keep putting money into pensions and stay in work

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Age UK: Older adults want to keep putting money into pensions and stay in work

Tue 22nd Jun 2010

Many older people in Britain want to continue working and putting money into their pension pots, experts have stated.

According to Age UK, this is one reason why the default retirement age should be abolished.

"Forcing people in later life out of the labour market when they want to work, save for their pensions and pay taxes is nonsense," said Michelle Mitchell, director of the charity.

A survey by Age UK showed that almost two-thirds of the British public believe the practice of forced retirement should be scrapped.

The organisation thinks that such a move could boost the UK economy, as the loss of tens of thousands of workers every year means billions of pounds in tax revenues and economic output are also being lost.

Chancellor of the exchequer George Osborne confirmed in today's emergency Budget that the coalition government will launch a consultation on whether the default retirement age should be phased out.

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