Anne Perkins writes (Comment, 5 August) that older workers need to be told when to quit in order that their jobs can be given to young people. Its an argument that fails to make economic sense. Numerous studies have found no evidence to support the theory that keeping older workers in jobs limits the opportunities for younger people. On the contrary, all the evidence shows that helping people in their 50s and early 60s to stay in the workplace is essential not only for their own long-term financial prospects but also for the wellbeing of the economy as a whole.
We face a fundamental demographic shift in this country. In the next 10 years, there will be 700,000 fewer people aged 16-49 in the UK workforce, but 3.7 million more aged between 50 and state pension age. If business fails to wake up to this undeniable reality, then our economy will contract, employment will fall and young (as well as old) people will suffer. Contrary to the articles suggestion, working longer is not somehow the preserve of the better off. It can help our lowest earners to guarantee themselves a more secure and comfortable retirement.
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