Rishi wants the over 50s back to work, which are the companies clamouring for over 50s employees?

[StarInTheHeavens]

I never hear about a shortage of over 50s staff so who are the companies that will absorb this workforce?

Me too. Just been told my temporary contract is ending so been given a months notice which is good of the client as they only needed to give me a week and they said they'd give me a reference too. I never seem to have trouble finding another position but its still stressful. I am not planning on retiring until I'm 67 and wondering whether to change course from the field I am currently working in.

Working only 30 years is surely not the norm?

I'm 58 and have already worked 40 years, (I started work literally the day after leaving school and never been unemployed and also worked right through maternity with minimal time off) and will have to work until 67 to live on state pension (never had any significant employer pension schemes so private provision is nothing more than pocket money). So, I'll have been working close on 50 years when I finally retire (If I live that long).

But yes, we need radical reform of professions/industries where people only work for 30 years. That's insane given the years before working are longer due to Uni and other pre-job training/education.

A nurse or civil servant retiring in their mid 50s will not be receiving a pension anywhere near their current salary. There will, first of all, be a significant reduction by taking it early. So a nurse, for example, who has 30 years’ service retiring at 55 with a final salary of, say £40k, may get a pension of around £10k a year.
I worked as a full time teacher (with a final salary of £45k) for 29 years, retired a year early (59) and my pension is £13k a year.

I’m 54 and I only know one person who has retired in her 50s. And she only managed that due to both parents dying and leaving her property/money.

We very much value their experience.

do you very much pay them their worth too? (that isn't a dig but it is a problem for a lot of the over 50s who often have a lot of caring/dependent responsibilities but being offered the wages of a single 22 year old)

So more things that the government might want to look at are:

• retention: why do they need so many new staff?
• better succession planning (that required more staff because if you are training someone that is 2 people not working to full capacity)
• ridiculous short term contracts. They should be extended automatically to open-ended after a certain amount of time. With penalties for firing and rehiring someone else for that exact job. the onus must be on the employer to prove no wrongdoing
• in Germany everyone is allowed a 2nd job, which doesn't count towards your taxable income. Up to EUR 450 per month. We employ a fair few people who would otherwise not work, but like this extra income. They WFH and it's almost like a giant job share
• more flexibility where possible. Not just loads and loads of school hours jobs (although this would help) but maybe late-start/late-finish for people who prefer that, or 4 days or 3 days which includes evenings weekends for those who prefer that etc etc
• incentives for companies who offer jobs etc on best practice

there is so much a government can do. And firms need to check their ageist mindset. Not all older people are either gaga or wanting a massive salary. They do want to have their experience taken seriously

I am 57 and working full time in a senior position. I will be mightily pissed off if the 'tax free' period is not extended to ALL over 50's to help stop further leavers in any sector. Otherwise it's tax discrimination in my view.

People saying that their companies welcome/appreciate older candidates -
what industries are we talking about please?

But can we also have less of the "gah retirees they had it so good"

maybe they did. But people who are retired now entered the workplace during the 70s and 80s. Those times weren't all about Yuppies and high union pay rates. They were (80s certainly) about high youth unemployment.
People who started working then, started under the conditions they were promised by the government - pension at 65 (or 60 or whatever it was when they started) and a NHS that works: both of which they contributed to. It is not their fault that they are now getting their dues.

Have you thought about working in the care sector? I’d say that you have a wealth of experience from looking after your dad. And remember, all those bed blockers are being shipped off into care homes now!

I'm mid/late fifties gave up work as Covid changed my job and we have adjusted our spending and cashed savings in early. We aren't big spenders anyway and now I can look after the grandchildren and save on nursery fees. In exchange I get my facials, nails and haircuts paid. No point working up til a pension age that just keeps moving away. My Husband's just stopped at 63 and we'll just spend our pension savings early and if necessary take equity release. Were just building a bank to give to government if we keep working they haven't held up their end so I'm not interested in contributing anymore.

I'd love to know this too! I'm 50 and have been looking for a permanent position after contracting for years and I'm struggling to get interviews. I suspect it's the industry I'm in (publishing). I'd love to know which ones will welcome me with open arms!

Well, thank fuck l retired from teaching 2 years ago age 57. Conditions were fucking awful.

No proper dinner or break time
Walked 15000 steps a day
Taught a practical subject, so constantly lifting and carrying.
Started at 7:30 and finished about 6:15
More work in evenings and most of holidays
Expected to respond enthusiastically to a 20 something telling me how to improve my teaching. Just fuck off
Cobstant constant stress of bad behaviour, management pressure to be constantly outstanding.
Hounding students constantly to improve.

The kids were great. I was wrecked physically and emotionally however. Constant visits to pain clinic, mental health completely destroyed.

Why would l go back to that😲

I’m 59 this year and started a new senior full time job last year after being made redundant. None of my friends have retired. I will be working another 9 years and although some of my pensions will come to maturity by 64/54 I won’t be taking it till I’m 68. Id be extremely bored if I retired now - I like having purpose and intellectual challenge.

Im always surprised by people who want to voluntarily retire in their 50s. I presume they must have a lot of money and a hobby passion that they want to pursue. With the increasing life expectancy they could have another 40 years to live and there’s no suggestion that the state pension of £9,600 is likely to increase any time soon!

My neighbour's husband was a fireman. He did the "common" trick of taking promotions in the last few years of his service so got a whopping lump sum and good pension in his early 50s. He could have lived on it, but instead, got a high paying job at BNFL, along with a company Mercedes car! Then in his late 50's he retired from that and got another good pension.

He didn't need any more tax breaks than he already had. A tax break won't incentivise him back to work now, because his pensions are more than his wage as a lowly fireman. And he's still nowhere near state pension.

Likewise we have a family friend who's a dentist. He took early retirement and accepted a lower pension in return as the pension was still very attractive and more than enough for him to live a very comfortable lifestyle. He won't be returning to the workforce either.

Rishi needs to concentrate on looking at working conditions and why people left the workforce in the first place. If they had enough money to retire early, then gimmicks like a tax break won't get them back, and if it does, they'll just retire again when the tax break expires and they have to pay tax. How about he looks at working conditions, changing shift patterns, encouraging more flexibility - i.e. the kind of things that employers who are suffering shortages should have been doing for the last few years!

The best thing Rishi could do, if he wants to mess with the tax system to get people back in work in certain areas of shortage, is for him to accept HE made a mistake with IR35 and cancel the recent changes! It's been catastrophic for the lorry driving industry, the IT/financial services industry and the NHS!

@Boulezvous

Im always surprised by people who want to voluntarily retire in their 50s. I presume they must have a lot of money and a hobby passion that they want to pursue. With the increasing life expectancy they could have another 40 years to live and there’s no suggestion that the state pension of £9,600 is likely to increase any time soon!

They're usually people who no longer "need" to work because of tax free lump sums and early gold plated pension schemes. That's why Rishi's tax break is a stupid idea that won't work - the people he's targeting don't need the money anyway so a bit of a tax break won't mean much to them against the loss of freedom, stress, etc of returning to a workplace they probably couldn't wait to get out of in the first place!

I work in the charity sector. I'd love more over 50s candidates.

Experienced, mature, able to hit the ground running.

See, l don’t want a job where l ‘hit the ground running’ l feel exhausted just thinking about it. I want steady.

That’s for youngsters.

This shows the mismatch between employers and older staff.

All those retiring on 'gold plated' pensions will be paying tax on them remember. The gov wins in the end.

He did the "common" trick of taking promotions in the last few years of his service so got a whopping lump sum and good pension in his early 50s. He could have lived on it, but instead, got a high paying job at BNFL, along with a company Mercedes car! Then in his late 50's he retired from that and got another good pension.

naked jealousy is never a good look.

you can't just "take promotions" you have to earn them. And fuck me, he was a firefighter, he earned his retirement. And if BNFL want to take advantage of the training and experience of an older person? and pay them what they are worth? that is only GOOD AND RIGHT

Or after years in a physically demanding job should he have worked as a burger flipper (nothing wrong with that but he had qualifications to do other things)

People retiring in their 50s aren't costing the state anything extra.... they still cannot claim their state pension until 67 etc.

In France the retirement age is 62... yet they have higher productivity and are not in the same state as we are plus their state pension is higher.

If the NHS functioned properly, then older people would have more timely treatment and not be so ill.

The country is in crisis because when we should have been investing in skills and R&D during the 2010's when we had super low interest rates.... we were slashing both.

We also had very low pay rises, so now the majority take out more than they pay in taxes, leaving the wealthier to pick up the bills.

For many jobs working into your 60s is dangerous for them and for the rest of us.

See, l don’t want a job where l ‘hit the ground running’ l feel exhausted just thinking about it. I want steady.

It only means they know how work culture works, though. Know how to write emails, letters, whatever. Know that you can't sign off with KTHKSBAI XXX :) but need the corporate email signature.
Know how to answer the phone, turn up on time presentably dresses, and don't need to be taught all the basics.

Does it? That’s basic skills.

’Hitting the ground running’ indicates energy, enthusiasm and being overly keen to do well.

And as a late 50’s, I just don’t want that. I was a teacher l could do all of that with my eyes closed. But l want to hit the ground slowly. And bring steadiness and wisdom to a job rather than bounce and energy. It makes my toes curl just thinking about it.

we understand it differently then. At our place? you can't know the company structure or projects before you start. But if you have been a project manager before? you know how to manage projects and can step right in and learn as you go. Our graduates who went right to MBA? not so much.

That is not what “hit the ground running” means. It means taking charge, getting involved, solving problems, being a self-starter, being immediately active and productive, not needing anyone to guide or help you, as well as being knowledgeable about IT setups.

Transport for London especially the frontline tube and DLR sections recruit older people from other customer-facing industries like security and retail. Some of my Tube colleagues are in their late-60s and I know a few who are in their 70s! But they tell me they would be bored at home so they keep going.

If you have no reason to work after 50 I don't see why you should. If you want to keep working until 70 or 80, as long as you are deemed fit to do so, why not? It's all down to personal circumstances.