The Centre for Ageing Better reported that supporting older workers to help them stay in good-quality employment could unlock huge economic potential.
The charitable foundation said that halving the “employment gap” between people in the 50 to pension-age group and those in their 40s would increase National Insurance receipts by 1 per cent to just under £3 billion, and GDP by 1 per cent up to £18 billion.
The report urged the ~Government to improve access to flexible working hours and workplace adaptations so employees can manage caring responsibilities or work around health conditions.
Patrick Thomson, the Centre’s senior programme manager, said older workers are “integral” to the future of the UK economy. “Being in work is a way of redistributing income via the tax system for all. It reduces the welfare bill and promotes savings and financial independence in retirement,” he added.