Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Equality, diversity and inclusionLatest NewsEconomics, government & businessDepartment for Work and PensionsPay & benefits

Recession will lead to delayed retirement, workers believe

by Helen Gilbert 24 Sep 2009
by Helen Gilbert 24 Sep 2009

Britons believe they will have to work an extra six years and delay their retirement plans as a result of the recession.

Workers are rethinking their retirement due to heavy falls in defined contribution pension assets, according to Aon Consulting.

The employee risk and benefits management firm surveyed more than 4,000 workers in its Employee Omnibus Survey. It found nearly two-thirds believed the recession would delay their retirement plans. Of these, one in five envisaged having to work a further six to nine years.

According to Aon, an older workforce will have serious knock-on effects for employers, including increased costs from salaries, training, pensions and other benefits such as health insurance and wellness programmes.

However, the firm added that non-financial benefits of retaining older employees such as retained knowledge and experience might far outweigh financial costs.

Richard Strachan, a senior consultant at Aon, said: “There has to be a real discussion in this country about the value older workers bring to the economy, and a shift in the thinking that we have to retire at a certain pre-conceived age.

Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

“Already governments around the world are shifting the retirement age to later in life to reflect increasing levels of longevity, but employers need to match this with a positive attitude to workers older than the current retirement age.”

A High Court decision on whether the UK’s default retirement age of 65 is legal is expected imminently.

Helen Gilbert

previous post
HR manager beaten to death by sacked workers
next post
Workers ready to quit when recession lifts

You may also like

House of Lords to resume scrutiny of Employment...

30 May 2025

Indefinite leave to remain proposal could place workers...

30 May 2025

Overseas workers bring key benefits to IT and...

30 May 2025

Trade uncertainty means 7 million fewer jobs globally

30 May 2025

Personnel Today Awards 2025: Two weeks left to...

30 May 2025

Pension reforms could put savings at risk, group...

30 May 2025

Black workers face greatest risk from workplace surveillance

30 May 2025

Capita and PizzaExpress named for minimum wage underpayments

29 May 2025

Charlie Mayfield: HR needs more proactive approach to...

29 May 2025

Warning issued over loss of ‘frictionless’ business travel...

29 May 2025

  • Preparing for a new era of workforce planning (webinar) WEBINAR | Employers now face...Read more
  • 2025 Employee Communications Report PROMOTED | HR and leadership...Read more
  • Prioritising performance management: Strategies for success (webinar) WEBINAR | In today’s fast-paced...Read more
  • Retaining Female Talent: Four Ways to Reduce Workplace Drop Out PROMOTED | International Women’s Day...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+