Women's retirement age rising faster than men's in UK

Women's retirement age rising faster than men's in UK

The Guardian reports: “Women are on average working until the age of 64, in a dramatic reversal of the trend towards early retirement that marked the 1980s and 1990s.  Figures from the Department for Work and Pensions show that both men and women are remaining at work for much longer than before, but for women the change has been more rapid.

The DWP said that the average age of exit from the labour force for men is now 65.1 years, a rise of two years since 1998. But for women, the average age of retirement has jumped by 3.3 years since 1998 alone, to reach 63.9.

The analysis also reveals how many people are now working long after the former state pension age of 65. The DWP said that 10.4% of individuals are working beyond the age of 65, double the number in 2000. The number of women working past age 65 has nearly tripled.  The figures come amid mounting protests over the government’s decision to increase the female state pension age from 60 to 66, which has left some destitute. Many say that a lack of sufficient information about the rise meant that many of the 3.8 million women affected did not find out about it until they reached 60, leaving them with no time to make alternative plans.”  Read more  

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