UK - Government efforts to get older workers back into jobs have flopped, new research shows.
A report by the Policy Exchange – Left Out Left Behind – says the number of people between 50 and the state pension age who are unemployed has risen by almost 20,000 to 2.5 million since 1997.
The government’s pensions Green Paper claims one key to solving the problems of poverty in retirement is getting more people to work longer.
But the report’s co-author, Nicholas Hillman, said government policies did not help to curb the increasing trend of forced or voluntary early retirement.
He said: “The government’s £60 a week New Deal 50 Plus scheme was supposed to try to get these people back to work, but clearly it has been a huge flop.
“The government’s own research shows the training grant has not had a significant impact. We need to look at new ways to overcome this.”
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Premier Inn owner Whitbread has cut its defined benefit (DB) pension deficit to £162m ahead of its agreed £3.9bn sale of Costa Coffee to Coca-Cola.
Trends in longevity and mortality have proven difficult to forecast historically, but are vital to funding schemes and ensuring adequate retirement pots. James Phillips explores the key influences
The two-sided simplified annual pensions statement should be applauded, even if it missing information, says Jonathan Stapleton.