Pensioners Need Work Incentives

Pensioners Need Work Incentives

Pensioners need incentives according to a Chartered Institute of Personnel and Development.  

The survey has revealed that more pensioners would carry on working past the age of 65 if firms offered them incentives.  The survey suggests 38 per cent of workers aged 50-64 planned to work after they reached 65, but of those who did not plan to continue working, 31 per cent said they would change their mind if their employer allowed them greater flexibility.  Also 20 per cent would remain in employment after 65 if they were offered larger deferred state pensions.

Our view

The Government need us to work on and pay taxes for longer.  The Government have chosen to offer incentives to pensioners but to force them by increasing the state pension age to age 68.  We suggest this is tantamount to theft.  Many people paid national insurance contributions expecting a state pension at 60 or 65 not 68.

Useful links:

Learn more about Pensioners need incentives and related topics in the Pensions Adviser Channel

Request expert financial advice now

Purchase guidance on financial planning in the Money Shop 

Back to News Summary