TAEN – The Age and Employment Network estimates that from October 2011, when the default retirement age is scrapped, around a quarter of a million people will be allowed to carry on working each year.

By 2012 there will be 772,000 people aged or approaching 65. With the employment rate of the 60-64 year old age group currently at 45 per cent, and with 21 per cent of these self-employed, TAEN estimates that 278,000 people will be able to continue in their jobs without the threat dismissal on the basis of age.

Chris Ball, Chief Executive of TAEN says:

“The fact that around a quarter of a million people will be able to continue to work shows how unfair the default retirement age was in the first place. Today’s announcement is great news for those who feared that they would be pushed out of their jobs purely because they reached the age of 65 and great news for the economy as thousands will be able to continue to contribute their skills, time and spending power.”

“However, this figure also shows the challenge that lies ahead for employers with thousands of older people in the workplace.  They will need to  create recruitment and training and development opportunities. Without a jobs market that accommodates older people, working longer cannot become a reality.”