Mature workers have skills and experience to offer Photo by David Siglin on Unsplash
Longevity in Europe has forced the difficult discussion of raising the retirement age. As life expectancy increases, so does the ratio of pensioners to workers. This of course places a huge financial burden on governments who have expressed their concern that ‘the pot will run dry’ if the current situation does not change.
Raising the retirement age requires consideration for the mature worker
Changes regarding the state pension age will have to be made but to do so effectively, consideration has to be given first to the mature worker. If an individual has health or mobility issues, for example, it’s not possible that they will be physically able to continue working for another few years. The professions of workers will need to be taken into account, too. “In general, white-collar occupations tend to have higher participation rates into old age than people in blue-collar occupations,” said Arthur Seibold, assistant professor of economics at the University of Mannheim. He noted that this is due to the “physically demanding” nature of blue-collar work.
Postponing retirement can have many positive effects on an individual
However, there are many benefits for older workers to remain longer in the workforce, if they are in a position to do so. Some studies have shown that postponing retirement can prevent cognitive decline, and improve mental health and social interactions, issues that can affect pensioners who no longer work. Mature workers might need some flexibility as well, especially if they are caring for elderly parents.
Challenging ageism and offering support to an older employee is essential
Ageism could also prove a problem if not addressed, amongst colleagues and employers. Technology changes might also mean older workers will need to be offered courses to keep them up to date with their younger, tech-savvy workmates. If handled correctly, raising the retirement age can have a positive impact on employees, employers and the government.
