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Record number of older workers

A record number of older workers are in employment after a big increase in recent years, according to "striking" new figures.

The Government said almost nine million people over the age of 50 are now in work, almost a third of the workforce and a rise of 8.5% since 1992.

Around 1.1 million are aged 65 or over, twice as many as in 1992.

Pensions Minister Steve Webb said: "These striking figures show that employers clearly see the positive value in employing older staff. Retaining older workers benefits the whole firm, including younger workers who can learn from the experience and skills of their older colleagues.

"Since retirement at 65 was introduced almost a century ago, there has been a massive increase in life expectancy, and we have abolished the default retirement age so that people can retire when the time is right for them.

"We want to build a stronger economy, and older workers have a vital contribution to make to our long-term prosperity and the sustainability of our pension system, as well as their own financial and social well-being."

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