7 DEC 2023

Five million over 50s in the UK set to retire early, according to new research

The article from FE News discusses new research indicating that around 5.3 million UK workers over 50 are considering early retirement. This trend poses a risk to the workforce, exacerbated by rapid technological advances and a skills gap. Many older workers feel compelled to retire due to a lack of modern skills.

Early Retirement Trend: About 5.3 million UK workers over 50 considering early retirement.

Workforce Risk: Early retirements risk exacerbating workforce shortages.

Skill Gap Issue: Older workers retiring due to lack of modern skills.

Solution Suggested: Training and skill development could retain these workers.

Retirement Extension: Workplace training might extend careers by up to 15 years for the 50-54 age group.

Multiverse's View: Investment in reskilling for over-50s is crucial for labor market strength and job satisfaction.

For further information, you can read the full article on FE News: Five million over 50s in the UK set to retire early, according to new research.