The number of over 65s in work has risen since the early 2000s and more than doubled among women, a new study has found.
Research by the International Longevity Centre (ILC), released by Brightwell to coincide with 55/Redefined’s National Older Workers Week (25-29 November 2024), showed that 14.9% of men and 8.9% of women are economically active in this age group.
The future of ageing in an uncertain world report highlighted a sharp rise in employment among those over 65 in 2023 compared to 2004, when the figures stood at 8.9% and 3.9% respectively.
Those aged 50-64 years old were also more likely to be working, with 78% of men and 69% of women economically active versus 74% and 58% 20 years ago.
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The data further found that in 2023, 45.7% of women aged 50-plus were part-time workers, compared with 19.3% of men in that age bracket. However, the proportion of women with part-time roles has been declining, while the proportion of men doing so has been rising. In 2004, around half (51.3%) of women of this age worked part-time, compared to 16% of men.
According to the data, technology will enable more flexible working, as well as change how, where and when work is carried out. It found fewer people will travel to workplaces, with a growing number working from home or abroad. However, it acknowledged that not everyone would have the opportunity to do so.
Dr Vivien Burrows, senior research fellow at the International Longevity Centre and author of the report, said: “We know how important meaningful occupation is for our health and wellbeing. The rise in the proportion of older workers is a positive trend but there are signs that this growth is beginning to stall with too many people forced out of work earlier than they would like.”
She said ensuring that to enable people to work longer, preventing ill health, challenging ageist attitudes and embracing greater flexibility would be important.
“Older workers have so much to bring to the workplace – knowledge, experience, life skills. The UK’s economic growth is increasingly dependent on their contribution,” Burrows added.
Morten Nilsson, CEO, Brightwell, believes that the notion of a traditional retirement will cjhange as life expectancy increases.
He said: “In future, more people will be working into their sixties and seventies. For some this will be out of financial necessity as they simply won’t have enough saved for several decades of retirement. For others, working longer will be an active choice for the continued sense of purpose and social connectedness that it can bring. It’s important that more is done to ensure longer healthier lives so that people can maximise the opportunities of working into later life.”
Also commenting on the findings, Lyndsey Simpson, CEO of 55/Redefined, insisted that older workers “represent an overlooked reservoir of talent and wisdom that modern workplaces simply cannot afford to ignore”.
“It is also relevant to all of us either now or in the future as we will all at one point become an older worker,” she said. “This isn’t just about economic necessity; it’s about giving people the opportunity to thrive in later life, combining purpose and productivity in equal measure.”
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