Nowadays, more older adults are considering the idea of working past the conventional retirement ageRandstad’s Global Workmonitor
The survey echoes the findings of the Bank of Nova Scotia’s survey
As Canada is experiencing a shortage of skills in the workforce, older adults’ willingness to work past 65 years old comes as a relief to employers. This is also a relief to the government, who is now faced with a retirement issue: with baby boomers set to retire and fewer employees in the workforce who will be paying for retirement benefit plans.
Another survey, this time by Sun Life Financial’s Unretirement Index poll
According to the same survey, 61% of the respondents believe they have to do this because they have no choice. In other words, they have to work past 65 because they have to.
Working past the retirement age can be both a good and bad thing. One of the pros is that able-bodied older adults will be able to stave off boredom and at the same time, save a little longer for their retirement.
One clear disadvantage though is that some older adults may be subject to overexertion. The risk of falls and immobility is increased in the work environment, so older adults must be extra careful to make sure they are far from trouble. For companies, this means that they have to reassess the workplace to ensure the safety for their senior employees. This may include work place audits, barrier free