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Supporting Older Workers
According to the Office for National Statistics (ONS), by 2020 a third of the UK workforce will be aged over 50. It is therefore somewhat disquieting that a survey by insurance company Aviva has revealed that 44% of over 50s feel unsupported by their employers in areas such as career ambitions and objectives.
With the rising cost of living (40%) and insufficient retirement savings (38%) being given as the top two reasons for people to extend their working lives, Aviva suggests that one area in which employers could provide additional support to their older employees would be in offering access to retirement planning and financial advice. And yet, whilst their survey reveals that the percentage of employers offering flexitime or reduced hours to older workers has increased from 10% to 14% over the last six years, figures have remained largely static in areas such as the provision of access to independent financial advice or providing written literature on the financial issues surrounding retirement.
If you are looking for pension advice, or if your situation has changed and you may therefore need to review your existing investments, contact Beckworth by using one of the links on our website.