Recent figures from Aviva and the Office of National Statistics show that more over-50s are in employment than ever before. A record 302 in every 1,000 adults employed during the first and second quarters of 2015 were aged 50+, in comparison to just 213 adults in every 1,000 employed in early 1992, representing an increase of 42%. The total number of 50-64s in work in the second quarter of 2015 reached a new high of 8.24m.
This insight comes at the same time as Rohit Talwar, a futurologist, made headlines by saying that many of today’s 10-year-olds will live to at least 120 and a sizeable proportion will keep working until they reach 100.
Contributing to the debate, Sarah Harper of the Oxford Institute of Population Ageing predicted most jobs as we know them will no longer exist when today’s children reach 100. Robots, she expects, will work alongside humans, making physically demanding tasks obsolete.
Pushing back on the predictions of a longer and longer working life, the National Pensioners Convention stated “We can keep people alive until then, but that’s a completely different argument to saying they should be able to drive a bus.”
Saving for the future is one of the ways we can control how long we work for. Aviva has lots of handy hints on the Savings and retirement section of our website.