The majority of organisations believe that the average retirement age will rise over the next five to ten years, it has been confirmed by new research.
Axa PPP Healthcare's Supporting fuller working working lives: how organisations can embrace older employees and those with caring responsibilities white paper, questioned 1,000 managers and 1,000 employees in the UK and found that 66 per cent of managers thought the retirement age would likely rise.
The report also found that 36 per cent of manager respondents were not aware of any current steps that their company takes in order to attract, retain and engage older employees.
Meanwhile, 29 per cent of employee respondents reported that they felt well supported in managing workplace stress, while 28 per cent feel supported in maintaining their physical well-being. Twenty-three per cent said that they felt supported in their caring responsibilities, be that children, grandchildren or other relatives.
Chris Horlick, distribution director at Axa PPP Healthcare, said: “The changing nature of older age and how work is performed, combined with the predicted increase in employees who have caring responsibilities, present opportunities for redefining the relationship between the state, employer and individual when it comes to managing health and wellbeing.
“Employers need to ensure that their procedures, policies and communications are geared up to meet the needs of the growing number of older workers and, in particular, that they support the so-called sandwich generation; those who may be responsible for caring both for elderly relatives and for children or grandchildren while working.”