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New research by financial services organisation Pay4Later has indicated that the UK’s average retirement age has risen over recent years.

The research states that over 1.1 million UK workers are aged 65 and over – which is a staggering increase on the 2011 figure of 874,000.

Many analysts have suggested the main reason for this is that, despite being past retirement age, many cannot afford to retire. It is believed that only a small proportion of workers who continue past 65 do so because they enjoy their role.

It is a similar story among the 55 – 64 age range. 917,000 workers from that demographic have said they are looking to attain new skills and seek new training, in order to extend their careers past retirement age. 92,000 workers past the age of 65 have said the same.

What does the rising retirement age mean for UK employers?

Generally speaking, there is naturally a clear correlation between a person’s age and their health requirements. The older we get, the more we rely on high-quality healthcare.

Thus, with more individuals choosing to work past the average retirement age, it is very important that they are offered the best possible care. One of the most effective ways to do this is to offer staff health insurance and various employee benefits.

How Chase Templeton can help you protect your workforce

At Chase Templeton we have unmatched expertise in health insurance. We provide thousands of businesses with cost-effective medical insurance policies, highly tailored to ensure their staff’s health is in the best hands.

To find out more about how we can help you protect your biggest assets, get in touch with us today.