Are women in their 50s just realising how proposed pension changes affect them?
Sarah Pennells covered how the changes in state pensions will affect women in their 50s in a recent Q & A (see full article), but proposed legislation effectively means“, some women in their 50s will have to wait for up to two years longer to get their state pension. And that delay comes on top of the raising of the state pension age to 65 that’s already underway.
Around half a million women will have to wait 2 more years for their pension
Around half a million women will have to wait for a year or longer for their state pension under the government’s plans to raise the state pension age to 66”
On the one hand it can argued that bringing women’s pensions into line with men’s pensions is one more step for equality- hard to argue that one! However, the speed at which the changes are being introduced makes it difficult for women to plan, particularly those women born between March 6th and April 5th 1954 who will have to wait an extra two years to receive their state pension.
But assuming this situation is a ‘fait accomplit’, what can we do to ensure that we remain employable well into our sixties?
How to stay employable into your 60s
1. We need to ensure that are skills are current and that we remain marketable. If you work for an employer offering training to younger members of staff, ensure that you are also given the opportunity to attend training courses. Failure to allow equal opportunities for training may well place employers in breach of age discrimination legislation.
If you work for a smaller company which has no training budget, take advantage of all free workshops available to you. To keep up to date with technology there are lots of useful tutorials on Youtube. Lesley Anne Hornbogen produced an excellent list of commonly used applications to help anyone in support roles keep up to speed!
2. If you belong to a professional association again ensure that your accreditations are up to date – and take advantage of any workshops and seminars on offer- these are also excellent networking opportunities.
3. If working full time in your current role or profession is not a practical (or attractive) option, then look to see if portfolio working is a possibility, or which of your skills could be of interest to other types of companies.
4. Perhaps setting up your own business is an option to consider- depending on your own ambitions you can aim to establish a service based business with a view to generating an income stream, or even a business with a view to creating a saleable asset.
5. Keep healthy. We need to stay healthier for longer if we are to extend our working lives!
6. Remember, women over 50 make great employees – we just have to work longer beyond 50 than anticipated!