Nearly 200,000 over 50s ‘forced into retirement’ since the Covid outbreak

[HDQQ]

Roughly half of those over 50's would be over 55, and most people over 55 would love to retire if they could afford to.  Yes, there would be some people who love their jobs, while others feel needed and want to make a useful contribution. Also there are a minority of chronic workoholics with an exaggerated work ethic. But I think most people would be happy to retire from full-time work in their mid 50s if they can afford it - I know I was!

[johnofgwent]

I was surprised in recent years at the number of people in their late sixties and seventies still working — some to eke out pensions and others because they enjoyed it. I guess these are most likely to give up work or be "let go"...

What a difference a week and a bit makes ... I'm soon to enjoy a 30% pay RISE thanks to Covid 19

[johnofgwent]

At 63 I am one of five out of 300 not yet recalled to work. The effort of laying the patio is beyond stupid, I only have to pick up a 450x450 slab and try walking 25 yards to push my heart rate beyond 160.

I rather suspect inwill be added to that list in three weeks time.

[papasmurf]

I was surprised in recent years at the number of people in their late sixties and seventies still working — some to eke out pensions and others because they enjoyed it. I guess these are most likely to give up work or be "let go"...

Plus others having no choice but to work.

[patman post]

I was surprised in recent years at the number of people in their late sixties and seventies still working — some to eke out pensions and others because they enjoyed it. I guess these are most likely to give up work or be "let go"...

[Streetwalker]

At 62 I haven't worked for a year due to the the obvious . Im just treating it as a gap year seeing as I missed out on one in 1975 when I finished my education and went straight into work .

[Barry]

I was forced into retirement in my 40s and don't really have too many complaints. I might have been financially richer if I had still been working, but I've had a much fuller life, if poorer, since.

[papasmurf]

The "economically inactive" is a bit if a catch all description, as it includes students and full time carers who are caring for a disabled spouse or other relative.
There are also consistently around one million people of working age who don't work but who also don't claim any benefit. (Got enough to live on for various legal reasons.)
That 200000 over 50s have be added to that is not a surprise.
I would however like to see a deeper analysis.  There are a number if careers that qualify for a pension after 30 years. (Those are contributory pensions.)
Many of those people often work part time as a top-up, and they type of jobs they do would be vulnerable in the current circumstances.

[Borg Refinery]

Nearly 200,000 working people over the age of 50 have been forced to leave the workforce and seek early retirement since the beginning of the Covid-19 outrbreak, according to new research with highlights the devastating impact of the pandemic on older people.

Analysis of official date from the Office for National Statistics (ONS) by the website 'Rest Less' found that the inactivity levels of people aged over 50 has risen more than any other age group since March 2020.

Rest Less's analysis shows that there were 198,000 workers aged over 50 who dropped out of the UK workforce and became economically 'inactive' since the pandemic began – an increase of 1.4 per cent in the most recent period (March – May) compared with the beginning of the year (December – February).

Economic Inactivity is an important measure that shows how many people have dropped out of the workforce enitirely rather than just becoming unemployed.

https://welfareweekly.com/nearly-200000-over-50s-forced-into-retirement-since-the-covid-outbreak/