Why are older workers leaving the workforce? | IFS Zooms In

[@eleveneleven572]

For us older workers, esp if we are house owners, we are finding the workplace toxic and can get out. There is ageism and discrimination against our demographic, that was becoming increasingly obvious even 20 years ago. We have pension funds and can downsize our property or move to somewhere that housing is cheaper, release money and quit. I did that age 47. The prospect of nearly another 20 years commuting, working in stressful job, living in London was not a great prospect. I'd reached the top of my career. I quit, sold up and emigrated. I've enjoyed a life of study, travel, sports, hobbies. I'm not wealthy but I can do what I want within reason. Most of how I spend my time costs little or nothing. There are many Brits like me.

[@specialandroid1603]

I am quite happy with my economic inactivity

[@agibsonallan]

n the Uk, the amount of over 50s taking retirement is now skyrocketing they have had enough of the high tax rates and government spending on war and illegal immigration this is a great loss of experienced people from the workforce just watch as more and more people give up on their country and head for the door This will be the new reality in the West as people lose all faith in their governments, also if the governments think people will send their kids to die in a war they are in for a fight

[@davidfisher7247]

Interesting that this is not a trend seen in our European neighbours. I wonder why? I can only guess that there is something about employment in the UK, or the perceived future of employment in the UK that is encouraging older workers to say "sod it! I'm off!" Any plans to drive down further in this area?

[@stumac869]

Possibly a difference in home ownership?

[@eleveneleven572]

@@stumac869 Yes, having a asset to cash in and downsize makes getting out easier.

[@shanjanusman9974]

Rising levels of psychical, psychological and psychiatric illness is why staff shortages exist.

[@peternorthrup6274]

I retired at 55. It was always the plan. Now its somebody's else's problem. I was so tired of watching people play on there phones all day. Good luck America.

[@shaw99livecouk]

Inflation robbing wages and pensions