As life expectancy rises, more people are choosing to keep working for longer. 

Data from HMRC suggests that more than 2 million people of State Pension Age or over are still working. [1]

• 1.56 million people aged 66 or over are on company payrolls – a 12% increase from 2021.
• 562,000 people are self-employed – an 8% increase over the last five years. [2]

By 2030, it’s estimated that more than half of UK workers will be aged 50 or over. [3]
  
Alongside these trends, two key legislative changes are also playing a significant part.

First, the State Pension Age, currently 66, is scheduled to rise to 67 between 2026 and 2028, with a further increase to 68 planned in the years ahead.
 
Second, age discrimination legislation means employers must ensure that policies, benefits, and workplace practices do not unfairly disadvantage older workers – removing expectations of retirement at a particular age and placing greater emphasis on fair treatment, flexibility, and performance-based decision-making. 

Is your business longevity-ready?

While 83% of employers agree that people will need to work longer, only 12% of private sector employers have plans to recruit and retain older workers.

To ensure you’re supporting those wishing to work for longer, you’ll likely need to revise existing structures and review your benefits package to align with changing motivations.

As Lindsey Rix-Broom, CEO of Canada Life, says, “building longevity-ready workplaces requires collaboration and meaningful dialogue between individuals, employers, advisers, and policymakers. Getting this right is not only a practical necessity – it is a moral imperative.”
 
With the majority of UK businesses yet to take steps to capitalise on the experience and skills that older employees bring, now’s the time to ensure your business is ready to help ageing employees thrive. 

3 steps your business could take to help your employees to stay in work for longer 

1. Understand employees’ motivation to stay in work

Most of us go to work for two reasons: salary and work-life balance. 

Beyond age 45, these values begin to shift. People in their 50s are typically more stimulated by personal goals and inner satisfaction.

Sadly, Canada Life reports that employees aged 55 to 64 are prone to disagree that their workplace is a good place to work. [4]
 
To support mature employees, ask what they need to thrive and help them stay.

2. Align workplace benefits to reward longevity

While employees value all workplace benefits, salary, annual leave, and pension contributions matter most.

After flexible working, the other top priorities all support health and personal protection, including:

• Health insurance
• Critical illness cover
• Life insurance
• Health care cash plans
• Wellbeing and mental health programmes.

For employees in their mid-thirties and older, the top three insurance protections matter most.

So, take time to review whether your benefits package delivers valuable life insurance, health insurance, income protection, and critical illness cover.
 
Offering strong group protection could make a meaningful difference to older and younger employees.

3. Create an age-inclusive culture

According to Canada Life, employees and employers alike think of people aged 56 as “old”. [5]
 
This highlights the need to foster positive attitudes and create more inclusive workplaces.

• Challenge age stereotypes – recognise the value of experience, knowledge, and professional networks that older employees bring.
• Promote multigenerational collaboration – encourage knowledge-sharing, mentoring programmes, and multigenerational project teams.
• Communicate clear support for longer careers – promote progression, training, and opportunity to workers at every stage of their careers.
• Offer access to training and upskilling – particularly for those aged 45-plus, so skills remain current.
• Equip managers to lead age-diverse teams – ensure performance conversations are based on contribution and capability.
• Adopt flexible, adaptable working structures – account for changing life stages, responsibilities, and health considerations.
• Embed inclusion into policy and culture – ensure benefits, recognition, and workplace initiatives support employees at every age.

Titan Wealth is here to help you support your whole team

If you’re keen to do more to support older employees and your wider team, we can help you put together a compelling and comprehensive benefits package tailored to your business.

Titan Wealth Corporate Consultants act as an extension of your HR and Benefits team. 

From advice and governance on workplace pensions to a full suite of valued employee benefits, we go the extra mile, providing individual guidance and advice to your employees.

Get in touch

To find out more about how we could help you to support older employees to remain in work for longer, please get in touch.

Email [email protected] or call us on 0800 048 0150.

Please note
The information contained in this article is based on the opinion of Titan Wealth Planning and does not constitute financial advice or a recommendation for any investment or retirement strategy.
All information is correct at the time of writing and is subject to change in the future.