11 October 2018

Number of women aged 60 – 64 still working has more than doubled compared to 1998

2 min read

 
Helen Morrissey, Personal Finance Specialist

Helen Morrissey

Personal Finance Specialist

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Commenting on employment statistics showing rising employment rates among older workers, particularly women, Royal London Pensions Specialist, Helen Morrissey said:

"This morning’s statistics show large increases in the number of older workers in the workplace. This is particularly true for older women with 48.5% of women aged between 60-64 being employed in 2018 up from 23.4% in 1998. Female employment rates among those aged 55-59 surged from 52.5% in 1998 up to 70.7% in 2018.

There are several reasons behind this trend – for instance, changes to State Pension Age will be one factor behind women staying in work longer. Rising divorce rates for women aged over 50 can also provide huge financial upheaval and prompt many women to remain in the workplace.

However, it is also important to remember there will be many other women remaining in work for longer because they want to and it is good to see the UK workplace offering them the flexibility to do so."

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For further information please contact:

Helen Morrissey, Personal Finance Specialist

About Royal London

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June.

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