19 August 2015

Having a record number of older workers in employment is benefiting the UK economy, according to pensions minister Baroness Altmann.

But she says businesses could benefit even more by taking full advantage of the skills that older people have to offer.

The minister's comments come as new figures show that over 8.2 million 50 to 64 year-olds are now in paid work.

That represents a 50,000 jump on the previous three-month period and a 235,000 rise compared to this time last year.

Baroness Altmann says with older workers possessing a wealth of experience, talent and skills, the trend is good news for the economy, as well as people's earning power and pension savings.

And she adds that companies could look to the age group to help fill some of the 735,000 job vacancies in the UK economy.

Ministers have been working to promote the benefits that organisations can gain from having greater age diversity within their workforces.

This article was written by the Press Association, for Legal & General. Please note the views expressed in this article are not necessarily the views of Legal & General and its group of companies.

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