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Majority want end to retirement at 65

A recent survey has shown that over 60% of those in the UK wish to see the government abolish the statutory retirement age of 65. Ironically, the Conservative/Liberal Democrat coalition government had promised to phase out forced retirement but it looks as though David Cameron may have speed up this particular strategy. So why is there a move towards working into later life?

As the cost of living in the UK continues to rise, interest on savings remains relatively low and the taxation situation in the country looks set to get worse, many people are concerned about the future. It is claimed that £3.5 billion was wasted last year by pushing over 65s out of the employment market and replacing them with staff that often needed training and additional help. There's no doubt that a wealth of experience in the UK employment market is wasted each and every year but whether maintaining a higher level of older workers in the UK marketplace could affect the prospects of the youth of today is also another debate.

Whatever happens over the next couple of years there is no doubt that UK unemployment is set to rise in the short term although hopefully difficult decisions taken this week will allow the economy to re-base and consolidate for the future.

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