Older Workers Later Lives
Dr Tiejun Ma and Dr Lynne Robertson-Rose have launched a new project with the Global Open Finance Centre of Excellence (GOFCoE) to help ease financial distress for those approaching retirement. The project is funded by the Standard Life Foundation.
The project focus is:
- To understand how the pandemic has affected the most financially vulnerable older workers across the UK.
- To understand motivations behind pension withdrawals prior to state retirement age.
- To understand and project how income volatility will affect the ability to build financial security in retirement
The research uses anonymised financial data to quantify the extent of financial distress amongst the over 55s. The analysis will determine the impact of the Covid-related economic downturn on older workers’ ability to achieve financial security in retirement.
The project also engages directly with third-sector support organisations through online focus groups.
The aim is to derive empirical data evidence and insight to inform policy adjustments that will help improve outcomes for older workers.