People are working into their old age

More and more people are working into their old age
More and more people are working into their old age

The gap between the employment rate of 50 to 64-year-olds and younger workers is at its narrowest in at least 25 years, new research suggests.

Around 72% of people in the older age bracket are in work today, an increase of 86% since comparable records began in 1992 - and 27% in the past decade, a study indicated. In comparison, 78% of 16 to 49-year-olds are currently in work, an increase of 10% since 1992.

Stuart Lewis, founder of Rest Less, said: “The proportion of 50 to 64-year-olds in work has been on a steady incline since comparable records began and the employment rate is quickly gaining ground on the 16 to 49-year-olds.

"The rising state pension age, combined with the transition away from the security of final salary pension schemes is forcing many to continue working for years longer than planned."