Patrick Thomson, Senior Programme Manager at Ageing Better, presents at the Institute and Faculty of Actuaries on inequalities in work and retirement and how an ageing population can impact the workplace.

1. 13 October 2017
Health, caring and the ageing workforce
Patrick Thomson
Senior Programme Manager at the Centre for Ageing Better

2. Health Financial
security
Social
connections
What do people say is important to a good later life?
Work interrelates with all these factors:
• Better health allows for longer working life (but working longer doesn’t necessarily
make you healthier…)
• Working for longer and delaying retirement improves financial situation
• Many of us draw social connections from fulfilling work
But all of these are dependent on the quality of work
Later Life in 2015 survey of those aged 50+ (Centre for Ageing Better, Ipsos MORI 2015)

3. What do retired people miss about work?
Later Life in 2015 survey of those aged 50+ (Centre for Ageing Better, Ipsos MORI 2015)
One in five people “unretire” within 5 years of retiring
(WHERL project analysis of BHPS data)

4. 0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69
Employment rate by age
Age
Employment rate by age • Nearly 10m working over age of 50
• Over 1m working over 65
• Since 2008: higher employment rate for
those aged 50-64 than 18-24

5. 0%
5%
10%
15%
20%
25%
30%
35%
40%
I need to earn
money
I think I'm too young
to stop
I enjoy the work I do
0%
5%
10%
15%
20%
25%
30%
35%
40%
Felt ready to retire I reached state
pension age
Onset or
development of ill
health/disability
AB C1 C2 DE
Those retired: ‘What are the main reasons why you
retired when you did?’
Those working: ‘What is the main reason you are
not yet retired?’
Later Life in 2015 survey of those aged 50+ (Centre for Ageing Better, Ipsos MORI 2015)
Inequalities in work and retirement

6. Those in work are feeling less secure

7. Those who are out of work face multiple barriers to return
Source: Learning & Work Institute calculations based on DWP: Information, Governance and Security Directorate
Work Programme job outcomes as a proportion of referrals by participant characteristics
(June 2011 - June 2016)

8. Of all disabled people out of work,
half (49%) are aged 50-64
Most disabled people aged 25-49
are in work
Most disabled people aged 50-64
are not in work
Work, health and ageing
Source: Work and Health Unit Analysis of the APS, April 2015 – March 2016, UK
Age of disabled people by employment status, UK Q2 2016

9. Caring responsibilities
Proportion of adult population with informal caring responsibilities, by age and gender

10. Summary
13 October 2017 10
• We are all ageing!
• We all face different priorities and needs in terms of changes in work and home life.
• People of all ages generally want the same things at work, but not all ages experience
the same opportunities (Fulfilling Work, 2016 IES / Ageing Better)
• However, health and caring needs do become more prevalent with age.
• There are stark inequalities within generations in terms of how we work and for how
long
• Working with our partners and others we want to promote opportunities for good
quality work to support a good later life

11. 13 October 2017
Thank you
Patrick Thomson, Senior Programme Manager at the Centre for Ageing Better
@paddythomson

12. 12 October 2017 12
The views expressed in this [publication/presentation] are those of invited contributors and not necessarily those of the IFoA. The IFoA do not
endorse any of the views stated, nor any claims or representations made in this [publication/presentation] and accept no responsibility or liability to
any person for loss or damage suffered as a consequence of their placing reliance upon any view, claim or representation made in this
[publication/presentation].
The information and expressions of opinion contained in this publication are not intended to be a comprehensive study, nor to provide actuarial
advice or advice of any nature and should not be treated as a substitute for specific advice concerning individual situations. On no account may any
part of this [publication/presentation] be reproduced without the written permission of the IFoA [or authors, in the case of non-IFoA research].
Questions Comments