Fifty Up Club survey: One third want to work until 70

IN news to cheer Treasurer Joe Hockey, more than a third of older people want to work until they are 70, yet fear for an appropriate job.

MORE than a third of older Australians want to work until they are 70, but most fear they won’t be able to find an appropriate job.

A new study of more than 6300 Australians over the age of 50, conducted by consumer action group the Fifty Up Club, reveals 36 per cent would like to work until 70, if they are physically able to and can find satisfactory employment.

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In a controversial report to the federal government, the National Commission of Audit warned the ballooning costs of the aged pension need to be restrained, and called for the pension age to be increased to 70 by 2053.

And Federal Treasurer Joe Hockey said the government plans to go further, lifting the pension age to 70 by 2035. Australians are currently able to access the aged pension at 65.

But Fifty Up Club chairman John Mangos said the government needs to show more leadership and provide seniors with better access to training and development so they can acquire the skills that will allow them to stay in the workforce for longer.

“I think it is the intention for most people to work as long as they can, so they have a reason to get up every morning,” Mr Mangos said.

“This study highlights the job gap — older Australians want to work but finding work that is satisfying and physically appropriate is difficult.”

“Older Australians want to work but finding work ... is difficult” ... Fifty Plus Club chairman John Mangos. Picture: Attila Szilvasi.

According to the study, less than 10 per cent of Australians over the age of 50 believe they would be able to find appropriate work until 70, and less than 20 per cent believe they would be physically capable of working until 70.

“It’s all very well to say Australia as a country is living beyond its means, but that means you have to do something about it,” Mr Mangos said.

“If you want Australians to stay in the workforce longer, you have to make it practical for them.”

National Seniors Australia’s chief executive Michael O’Neill agreed that many older Australians want to work through their 60s, but he said the real challenge is providing these people with sustainable employment.

Mr O’Neill warned if this is not done, “all we are going to see is a very large cohort of people transitioning form one form of welfare to another”.

“Over the past decade governments of all colours have talked about this but made very little impact, it starts with cultural change and it doesn’t happen overnight, but it’s important they start soon and cultural change starts with leadership,” he said.