EVENTS:

Work and Retirement

Monday 14 July 2014; Conference Rooms 1, 2 and 3, Legal & General Group Plc, One Coleman Street, London, EC2R 5AA; 14:30 (for a 15:00 start) - 17:00

In June this year, Steve Webb MP, Minister for Pensions set out a new action plan to help older workers stay in the workplace. Launched on 13 June, the ‘Fuller Working Lives’ framework for action details the Government’s new measures to support the economy, workers and businesses, including the appointment of a new Business Champion for Older Workers.

This was an ILC-UK joint event with DWP, and hosted by Legal & General, where Steve Webb MP, Minister for Pensions introduced the new Champion. This was followed by responses from a number of expert panellists who led a debate on the issues affecting an ageing workforce and highlighting priorities for the new Champion to take forward.

According to Office for National Statistics estimates, in the next 10 years there will be 700,000 fewer people aged 16 to 49 but 3.7 million more people aged between 50 and State Pension age – a fundamental shift in the age distribution of the UK workforce which industry cannot ignore.

While the UK employment rate for 55 to 64 year olds is around 60% and growing, the recent improvement has been relatively modest compared to many other nations, and several countries achieve employment rates of around 70% or above – so there is significant room for improvement.

For more details on the framework, please visit https://www.gov.uk/government/news/helping-business-to-wake-up-to-older-workers-untapped-potential