Scotland and Wales lead in confidence to work into later life, research finds

In Scotland, 83% said they were sure they could do their job at 60, according to Standard Life Centre for the Future of Retirement’s research.
1 min read

Standard Life Centre for the Future of Retirement’s research found that people in Scotland and Wales were most confident they could keep doing their current job into their 60s and 70s.

In Scotland, 83% said they were sure they could do their job at 60. 

Wales led for confidence at 70, with 55% saying they could keep working at that age. 

In the West Midlands, confidence dropped to 74% for working until 60. 

The East Midlands had the lowest confidence at 70, with only 43% believing they could keep working.

The centre highlighted that being able to work later in life is becoming more important for financial security. 

The research showed more than 250,000 extra people aged 60 to 64 were in relative income poverty compared to 2010, after the State Pension age increased.

Patrick Thomson, head of research and policy at the Standard Life Centre for the Future of Retirement, said: “How you experience work is one of the biggest factors in your likelihood of having a happy, secure retirement in the future. 

“At the moment, too many people are missing out on opportunities in their careers, or doing jobs that damage their health and wellbeing, limiting their ability to earn and save. 

“A worrying number feel their work isn’t sustainable for the long run, and there are big differences depending on where in the country people live and work.”

Thomson added: “We urgently need to address that to help people be in better work today, and to have better retirements tomorrow.”

The research showed 83% of workers in Scotland were confident they could keep going in their jobs at age 60, with the North East and North West at 82%. 

The West Midlands was lowest at 74%. 

At age 70, Wales was highest at 55% while the East Midlands was lowest at 43%.

London workers were most confident about retiring when they want to, ranking sixth for working at 60 and eighth for working at 70. 

London also ranked top for overall job satisfaction at 77%, job flexibility at 82%, pay at 69%, progression at 66%, and workplace pensions at 64%. 

The North West came second overall, with the South West in third.

Thomson said: “Over 50s are not a homogeneous group. Their experiences of work as they age are shaped by a huge range of factors throughout their lives, one of which is their local economy and job market. 

“Policies to improve people’s access to good work must recognise this fact or risk reinforcing existing inequalities. 

“We need to make sure people have opportunities at work no matter their age or where they live.”

Thomson added: “That needs to adapt throughout life, and could involve learning new skills, help with a health condition, balancing being a carer, better flexible work, or the opportunity to shift careers entirely.”

Marvin Onumonu

Marvin Onumonu is a Reporter for Workplace Journal and The Intermediary

Previous Story

Industry professionals divided over pensions Value For Money framework, survey finds

Next Story

‘Tinder leave’ could be the new workplace norm, says expert

Latest from Health & Wellbeing

Don't Miss