Exploding the old age myth (From The Wiltshire Gazette and Herald)

Exploding the old age myth

A report by Age Concern claims to explode the myth of the demographic timebomb.

According to the national charity the over-50s currently create a quarter of the UK's economic wealth.

But its report, The Economic Contribution of Older People suggests that up to a million more older people who are not in paid work could be, and that this would contribute an additional £30 billion to the annual economic output.

Said the report's author, economist Pamela Meadows: "Existing contributions to national well-being, whether through paid employment or through unpaid work, are significant. But the economic contribution by older people could be greater still."

As such, the charity is suggesting that the Government scrap mandatory retirement ages.