Are you a ‘Bruce Forsyth’?

Plans to scrap the default retirement age of 65 in a year’s time are moving forward. And it could result in there being more ‘Bruce Forsyths’ in the work place, according to employment law expert Tim Thompson.

Tim was one of the speakers at our Employment Law briefing. And he made some interesting points about the effect the removal of the default retirement age will have.

“Bruce Forsyth is well beyond 65 but he still has a role to play,” said Tim.
Brucie may not work full time or long hours but his role is incredibly valuable – and a perfect example of how an older employee can contribute albeit in a changed role.

Tim quoted some very interesting statistics.

In 1841 just four per cent of the population was over 65. By 2008 that figure had quadrupled to 16 per cent. By 2033 almost a quarter of the population will be aged 65 plus.

Now overlay these numbers on those.

In the 1890s, two thirds of men aged 65 and over were ‘gainfully employed’. In the 1920s, that had fallen to half. By the 1950s just a third of men aged 65 and over were working. In the 1980s the figure was less than 10 per cent.

So although we have a huge rise in the number of people over 65, there has been a dramatic fall in the percentage of them who are working.

That, naturally, creates a heavy – and increasing – financial burden on society.
Listen to Tim’s discussion by clicking here.