Is retirement endangered? Despite the government’s efforts to put people on a firm footing in retirement via pensions auto-enrolment, the notion that everyone will stop working at a particular age is under threat.
By 2020, most people will have to wait until they are 68 to collect their pension. While people in their 20s may not be able to draw theirs until their 75th birthday. Clearly, we will need to change our thinking around retirement.
These articles examine the way employment and retirement are being reshaped by a more transient workforce, a desire for greater flexibility, the demise of the 9-5 job and people’s need to work longer to fill a savings gap.
These forces require fresh thinking from HR departments around issues such as how to retain their best staff and how to compensate a workforce that is more disparate in age and outlook than a generation ago.
Retirement will become a moment when people reframe the terms of employment.
Reports of the death of the traditional employment model have been greatly exaggerated.