Ageing Workforce Could Lead To An Increase In Benefits Costs, Employers Warn

Three quarters of employers say they expect the number of over 60′s in work to increase between now and 2020, with 29% expecting it to rise significantly. The number of older people still in work is expected to rise by 13% between now and 2020, according to projections from the Office for National Statistics (ONS).

The number of people over the age of 71 still in work is expected to rise by a  significant 24%, according to the ONS, but the number of baby-boomers from the 1960′s still in employment is only expected to rise by 3%, because many of these are already in work.

Whilst employers seem to be relaxed about the idea of an ageing workforce, 47% said that they were concerned by the likelihood that this could result in higher costs for their business, particularly in relation to pensions and sick leave.

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