Postponing retirement by 5 years will increase your eventual retirement income by 56%. And it'll add a trillion $$ per year to the US Social Security fund, wiping out the deficit by 2045. So wrote Bob Moos in the Financial Post.
Baby boomers' much publicized intention to work longer because of better health and less physically demanding jobs points toward the possibility of more people staying in the workforce...not only because of financial need, but because they find satisfaction in what they're doing.
But, are workplaces ready to accommodate this influx of new "older" workers or ready to retain those they have? Not all are welcoming. Some still operate by the stereotype that people over 60 will drain their health insurance coffers or... because of their experience and seniority, they are too expensive.
Time to shake up those assumptions. The Center for Productive Longevity, a non-profit based in Washington D.C. will act as a bridge "between the talent needs of employers and workers 55 and older with the requisite skills and abilities to continue in productive activities."
The Center sponsored a meeting in June of 2007, called National Conference on the New Human Resources Frontier: Utilizing Older Workers for Competitive Advantage, that addressed this issue in depth. I'll review highlights from the meeting in my next post.