UK employers have been warned to prepare for an ageing workforce after research revealed more than three-quarters of employees anticipated working beyond the age of 65.
An estimated one million people are currently working beyond the state pension age, but this is expected to treble among people aged 65 to 70 by 2017, according to research by Aon Consulting.
The study of 1,204 working adults found a quarter would carry on working past the official retirement age simply because they wanted to, whereas 53% believed it would be necessary to increase their pension.
Consequently, UK employers would have to address the risks posed by an ageing workforce, Aon said.
These include the legal dangers brought about by age discrimination legislation.
Sign up to our weekly round-up of HR news and guidance
Receive the Personnel Today Direct e-newsletter every Wednesday
Jon Beaumont, HR consultant at Aon Consulting, said: “An ageing workforce is inevitable with an estimated three million people likely to be working beyond their retirement age in the next 10 years. This could be a huge benefit to organisations, so long as the key challenges are tackled sooner rather than later.
“Effective performance management will be the key discipline in [turning] an ageing workforce into a competitive advantage.”
