Key Findings & Economic Impact

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UK Retirement Age Trends 

The UK state pension age is currently 66, but it will rise to 67 for those born after April 1960 and likely increase further. Some experts predict it could reach 71 by 2050. Denmark has raised its retirement age to 70, the highest in Europe, with plans to increase it further based on life expectancy. Other countries, including France and Italy, have also raised retirement ages, sparking protests. Unless we address age discrimination in hiring and workplace policies, we risk creating a larger economic gap between those denied employment due to age discrimination and the rising retirement age.

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Economic Impact on the UK

£9 billion lost annually – If the UK raised the employment rate of 50-64-year-olds to 75% by 2030, it would generate £9 billion per year for the economy and £1.6 billion in additional tax revenue. Read more here.

​PwC’s Golden Age Index – Countries that successfully retain older workers see stronger economic growth, but the UK lags behind in age inclusivity.

Increased reliance on benefits – Older workers pushed out of employment rely more on government support, increasing costs for taxpayers. Read more here.

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The Workforce Gap is Growing

By 2072, 27% of the UK population will be over 65, but workplace policies continue to favour younger workers. Without urgent action, businesses will lose experience and essential skills.

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​Lost Economic Growth

The Centre for Ageing Better reports that 800,000 people aged 50-64 are out of work but want to be employed, showing how age bias limits workforce participation and economic productivity.

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Lack of Policy Protections

The UK has clear employment targets and dedicated schemes for under-25s, including a new Youth Guarantee outlined in the government’s Get Britain Working Again White Paper. While the government has introduced 50PLUS Champions in Jobcentres to support older jobseekers, the White Paper highlights countries with high youth employment as models and fails to identify over-50s as a specific target group, despite their growing presence in the workforce. 50PLUS Champions doubled ahead of National Older Workers Week - GOV.UK

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The financial impact of excluding older workers runs deeper than most realise. Explore COSTS for additional costs due to age discrimination.