According to recent reports from the Office for National Statistics, Government and the FT, there are various reasons why, in the UK over 50s are not returning to work, according to the data and research from different sources. Some of the possible reasons are:
Health issues:
Some older workers may have left work due to health reasons, such as disability, mental health problems, or long-term illness.According to the Office for National Statistics (ONS), adults aged 50 to 59 years were more likely to report mental health reasons (8%) and disability (8%) as a reason for not returning to work when compared with those aged 60 to 65 years (3% and 3%, respectively)
Financial resilience:
Some older workers may have sufficient savings, pensions, or assets to support themselves without working. According to the ONS, the majority (66%) of those who left work since the start of the pandemic and did not return owned their homes outright, and were more likely to be debt free (61%) compared with those who left their job since the pandemic and returned to work (42% debt free)1. More than half (55%) of those aged 60 to 65 years were confident or very confident that their retirement provisions would meet their needs, compared with just over one-third (38%) of those aged 50 to 54 years.
Age discrimination:
Some older workers may face barriers or challenges in finding suitable work due to age bias or stereotypes. According to Age UK, older workers are more likely to experience long-term unemployment than younger workers, and may face discrimination in recruitment, training, and promotion. The Advisory, Conciliation and Arbitration Service (ACAS) provides guidance for employers and employees on how to prevent and address age discrimination in the workplace.
Job appeal:
Some older workers may have lost interest or motivation in working, or may prefer to pursue other activities or interests. According to the ONS, among those who would consider returning to work (58%), the most important factors when choosing a paid job were flexible working hours (32%), good pay (23%), and being able to work from home (12%)1. Among those currently in work, access to support may be a factor in retaining the workforce with those who have never left the workforce more likely to have access to employer support than those who left work.
Government policies:
Some older workers may be influenced by the government’s policies or incentives to encourage or discourage them from working. According to the Financial Times Adviser, the government announced in the Budget 2023 some measures to tempt over 50s back to work, such as increasing mid-life MOTs five-fold, introducing ‘returnerships’ for those who have taken career breaks, and making unexpected reforms to the UK pension tax system.
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