Incentives to employ workers over fifty years of age.

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Incentives to employ workers over fifty years of age.

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Workers are being asked to retire later in life and build up private pension plans to supplement their retirement income. However after fifty years of age if you lose your job, you can't get another one. Statistics show that more and more people in this position are becoming 'economically inactive'. If there are no jobs for over 50's how can we work longer?

Our proposed solution is that if a firm has above average numbers of staff over 50, the firm should benefit from subsidies to their National insurance bill. So that we are not burdened with more taxes, this incentive could then be matched by penalty charges upon firms that have below average numbers of over 50's in their workforce.

Legislation alone will not change age prejudice, incentives are needed. I am sixty, I have a degree from Cambridge, I've worked in consultancy and managed businesses. I competed in the Olympic Games but I can't get a job, because I'm over sixty.

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