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The New Retirees - Winding Up for Retirement

Increasing life expectancy, coupled with a new law axing enforced retirement at 65 from next October, suggest retirement will soon look very different, says Claire Adler.

One Sunday morning earlier this year in a packed church hall in Bloomsbury, innovation expert Charles Leadbeater gave a secular sermon for The School of Life about ageing. He began by pointing out that every day we live, grants us another five hours of life expectancy.


"Ageing invites us to re-think work," he preached. "Instead of seeing articles about hot young things in their 20s, I'd like to see a list of 70- somethings at the top of their game, who've only been in a specific field for 10 years."


Leadbeater has a point, and it's one being addressed at City-based career consultancy CareerBalance.


In 1980, a 65 year old Englishman had a one in 1000 chance of living to be 100 years old. Just 30 years later, this figure has increased to one in 100.


"Many of us cannot afford to retire and even those who do retire in our sixties won't want to spend the next 30 years or more on the golf course," says Simon Broomer, CareerBalance managing director.


Broomer is now pointing his most mature and experienced clients in the direction of trustee, non-executive and advisory roles including lay membership of Health Authority Trusts and regulatory financial bodies.


This baby-booming generation of new retirees is tackling ageist thinking in the workplace, according to Broomer. "Many people believe mobility and employability reduces after 50, but that's untrue. It is down to the individual to deal with these objections, sell the benefit of their experience and the value of their skills and knowledge," he says.


Activists from Age UK recently welcomed the government announcement axing enforced retirement at 65, hailing it as a victory against ageism which would benefit both people over 65 and the economy as a whole – thanks to older workers' precious skills, additional tax revenue and increased buying power.


"From a frustrated senior lawyer now working in employment health and safety, to a partner in a City firm now considering deanship of a law school or becoming a charity CEO, I'm increasingly talking to clients who far from winding down are winding up for retirement," says Broomer.


To get an expert view on your current career options and/ or your job-hunting tactics make an appointment

now to see one of our Career Specialists. E-mail consultants@careerbalance.co.uk, or call us on
020 3051 1054.

 

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