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A Swedish-style three-day working week for over 50s should be introduced in Britain, according to a former pension minister.
Baroness Ros Altmann said the system could encourage older people to stay in work rather than retire early, helping some of the country’s workforce issues. She also recommended tax breaks for employers to make hiring older people more attractive.
There are employment agencies in Sweden specifically designed to help older people find part-time jobs. She said some of these existed in the UK but “it needed to be the norm” and warned against withdrawing private pensions in your 50s.
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“The whole point is you should have money in your 80s and 90s, not spend it all in your 50s and 60s,” she said. “There are incentives in the system, but the industry and the pension products are not working to encourage people to not take their pension
"There should be this stage of life – pretirement, I call it – that you all want to achieve: ‘I’ve got to the point where I’m going to start cutting back.’
“This means you don’t need a full-time, high-energy, high-roller job. We need a lot of people in this country to do work that may not be high-level, but requires a lot of skill and patience.”
And she backed the suggestion that older people should deliver takeaways for companies like Deliveroo, adding it was the right “direction of travel”. Her comments come as companies in the UK have trialled a four-day working week, with most firms opting to continue the new working pattern.
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