Employers convinced that mature-aged workers are reconsidering their retirement plans in the wake of the GFC need to think again, says ageing workforce expert and SageCo director, Alison Monroe.
With super funds taking a hit last year there was speculation and some anecdotal evidence that mature workers would hang on to their jobs and defer retirement plans.
A SageCo survey of close to 700 mature workers (aged 50+), however, shows that only 28 per cent intend to work longer due to the GFC.
Nearly half (43%) plan to retire within three years, and 84 per cent are set to exit the workforce before 2020.
Health and wellbeing is the biggest factor in the decision about 'when' and 'if' to retire, nominated by 61 per cent of respondents, while 34 per cent say the availability of career and flexible work options will determine their plans.
Monroe says that while more than two thirds of mature workers apparently have no intention of postponing their retirement, many will only continue working longer if they can work differently. Some 54 per cent prefer alternatives to full-time work, including shorter working days or weeks, contracting and consulting, and taking long service leave to return to the workforce at a later stage.
If you have some HR news to share or would like to suggest a topic for an article, click here to email the editor.
