Could 19, 2023
Financial Coverage Institute: Virtually Half of Older Employees With Bodily Difficult Jobs with Low Pay Could Be Unable to Retire
The Financial Coverage Institute launched a report this week displaying that important numbers of People over 50 endure troublesome working circumstances, together with bodily taxing, harmful and irritating jobs — jobs that always don’t even pay sufficient to permit them to ever retire.
The report discovered that 54.2% of older employees are uncovered to unhealthy or hazardous circumstances and 46.1% of older employees have high-pressure jobs.
To make sure older employees can afford to retire when they should, the report advises offering assist for employees with caregiving duties, increasing Social Safety protection and advantages, and bolstering well being and security protections within the office.
“Some policymakers have proposed that older People may delay retirement to extend their financial savings. Nonetheless, with 50.3% of older employees enduring bodily demanding jobs, proposals to delay retirement make little sense,” mentioned Joseph Peters, Jr., Secretary-Treasurer of the Alliance. “We should increase Social Safety to proceed to offer retirement safety for present and future generations.”
