Age discrimination declining
Increasing numbers of Australians are happy to remain in the workforce beyond retirement age, according to the latest Financial Services Council (FSC)/Commonwealth Bank Older Workers' Report.
The research, details of which were released at the FSC annual conference on the Gold Coast, showed that while financial security was a major reason for older workers remaining in the workforce, it was not the only reason with lifestyle factors also being a factor.
The report found the financial services industry was indicative of the trends, with those retiring mostly being those who felt they had enough money to retire.
The report also found that age discrimination in the workplace was also less of a problem and had halved since 2012.
However, the report said there was still work to be done, with older workers finding it hard to find a new job when they had been made redundant or otherwise lost a job, with 27 per cent saying they found it very difficult.
The report also pointed out that 2015 represented the first year during which Generation X was entering the realm of older workers
Recommended for you
Sequoia Financial Group has announced it is selling off its Informed Investor subsidiary which it acquired in April 2022.
Wealth Data has examined which advice business model has seen the most growth since the start of the year including those that offer holistic advice.
Research conducted by Elixir Consulting and Lonsec has quantified the efficiency gains of using managed accounts in financial advice practices in hours per week saved.
With only one-quarter of advice practices actively seeking feedback from clients, the Financial Advice Association Australia has emphasised why this is a critical tool for client retention.
