Valuing Experience

Why are people working longer?

 

As our population ages, people are working longer – some by choice and some by necessity.

• People are living longer, healthier lives
Increasing numbers of people have sufficient health and fitness to give them a real choice about continuing to work. This has been helped by technological changes that mean in many jobs the physical demands have lessened.

• People need money to support themselves
With the prospect of living longer, and wanting to live these years actively, people also need to earn sufficient money to support themselves and possibly other family members. Changes in education and health costs mean that saving for retirement may have been postponed or need to be done concurrently with, for example, supporting children through study, or supporting elderly relatives needing institutional care.

• People want the stimulation and company that can be found in the workforce
Even if there is no financial imperative to continue to work, many older workers do not want to give up the stimulation, company and sense of contribution they have found in paid work.