Sunday 25 September 2016

Staff face working into their 70s

Published 29/01/2016 | 02:30

A survey commissioned by legal firm William Fry found that almost two thirds of older workers say they expect to have to work past the State retirement age. Picture posed
A survey commissioned by legal firm William Fry found that almost two thirds of older workers say they expect to have to work past the State retirement age. Picture posed

Thousands of people face working into their 70s because of a lack of retirement funds.

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A survey commissioned by legal firm William Fry found that almost two thirds of older workers say they expect to have to work past the State retirement age, which currently stands at 66.

It means workers will have little choice but to stay in their jobs beyond the age at which people traditionally retire.

This indicates that enforced retirement at 66 is set to become an increasingly contentious issue, according the compilers of the survey.

Partner in William Fry, Catherine O'Flynn, warned employers to plan for the fact that people intend working longer than has traditionally been the case.

"The reason for this could be financial pressure necessitating working for longer, for example, if they don't feel their pension provision is sufficient," she said.

Irish Independent

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