Older Workers and Retirement

  • Economic activity rates for older people in Scotland have increased over the past decade
  • 68% of men and 55% of women aged 50-64 in the HAGIS study are working, around 20% are retired, with the remainder unemployed, unable to work through illness or disability, caring or looking after the family home
  • 26% of degree-educated individuals have already retired by age 65
  • Only 18% of individuals who identify themselves as being in poor health are in work
  • Hours of work decline gradually from age 50 onwards as individuals cut their working hours as they approach retirement. Women are more likely to be in part-time employment prior to retirement than men
  • Almost 40% of older people expect to retire before the State Pension Age (SPA), 30% plan to retire when they become eligible for the state pension, and 30% after they have passed the eligibility criterion.
  • 42% of HAGIS respondents do not have any pension arrangements in addition to state provision. 49% are enrolled in an occupational pension scheme. 23% have a private pension. 14% have both an occupational and a private pension
  • There is some evidence to support the finding that those in the middle of the income distribution are likely to remain in work longer than the relatively poor and the relatively rich