Liverpool self-employment course from Royal Charity helps over 50s bring new business to the area

 Unemployment amongst over 50s is rising in the North West, but HRH The Prince of Wales’ charity, The Prince’s Initiative, is tackling the problem by bringing its successful self-employment course to Liverpool.

 There are 3.5 million people between the age of 50 and 64 out of work in the UK. Redundancy and unemployment is a huge problem for the over 50 community; many of whom possess a wealth of skill and ambition, yet are turned away from employment because of their age. The Prince’s Initiative believe that self-employment is a fantastic and fulfilling solution for the over 50s; 48% of over 50s are more likely to succeed in business creation than any other age group.

The Prince’s Initiative is the only national organisation dedicated to supporting unemployed over 50s explore self-employment. With 29,545 over 50s claiming job seekers allowance in the North West, The Prince’s Initiative’s “Preparing to Run Your Own Business” course taking place in Liverpool could not have come at a more appropriate time. The course kicks off on 9^th September and takes entrepreneurs over the age of 50 in straightforward steps through the challenging process of planning to start a business.

Rod Boyes, attended one of the “Preparing to Run Your Own Business” courses and has since gone on to create his own company Pinegrove leather. He says of the course, “The course was fantastic and helped me learn all the necessary skills needed to set up in business - such as cash flow and negotiating with customers and suppliers - as well as providing an inspiring and fun environment to learn within”.

If you are unemployed or facing redundancy, why not join The Prince’s Initiative at their “Preparing to Run Your Own Business” course in Liverpool by emailing info@prime.org.uk, calling 0845 862 2023 or visiting prime.org.uk/courses for more information.

 

Entrepreneurs 'older than we think'

 

More than a third (38%) of people in London believe that entrpreneurs fit into the 25-34 age group, when in fact they are more likely to be over 55, a new survey shows.
Research by Nominet Trust found that, contrary to popular belief in the capital, the largest number of British entrepreneurs are 55 years and over, rather than 20-somethings like Facebook's Mark Zuckerberg and Twitter's Jack Dorsey.

The findings come as the charity urges over 65s in the region to innovate online.
Its research found that perceptions of how older people use the internet and what they have to offer are largely incorrect. It found that most people believe over 65s are luddites when, in fact, this age group has the fastest growing number of users of digital and social media.

Nominet Trust's Ageing and the Use of the Internet report highlights that there is huge potential to mobilise our ageing population's enterprise and digital savvy to use the internet to address social problems in their lives and communities. In particular, the report shows there is a pressing need for products, services and technologies for older people designed by older people.

For this reason, Nominet Trust is launching a £250,000 challenge, with funding and support available for the strongest projects that could work with older people to: use the internet to address specific social problems facing older people; design new and better ways for older people to get on to and use the internet; and develop and use technologies which older people feel comfortable with.
The Nominet Trust is calling for bright sparks in London to come forward.

Older drivers safest in icy weather

Another plus of being 50+!


Insurance claims by over 50s drivers are actually DOWN 17% this December, compared with the same time last year, Saga Motor Insurance can reveal.
It seems that older motorists are heeding the warnings to stay off the roads in bad weather.  As AA statistics show that motorists in general are making twice as many claims as normal due to the bad weather, this must be younger drivers, because Saga's experience shows that older motorists are having fewer accidents this year.
Saga Director-General Ros Altmann commented: "It is really encouraging that older motorists are using their experience and planning around the bad weather to ensure they are not out on the roads in the ice and snow."

Is our future in retail?

 A report by Skillsmart Retail reveals that while 16 to 24-year-olds still dominate the retail profile, there is a decline in employees of this age.
Conversely, the number of older members of staff - from 55 to 74 - has grown over the last eight years.

Last year workers aged over 55 accounted for one in seven of the workforce, with 50,000 more people from that group working in retail than in 2001.

And the potential market for retailers to employ from within the 50-plus age group is nearly three times greater than the 16 to 24 age group, says Skillsmart Retail.

As people live longer, and with the compulsory retirement age of 65 soon to be phased out, Skillsmart Retail now predicts a 22% increase in the number of over-50s working in retail in the next 10 years.

The report also predicts that the next decade could see a 9% drop in the number of 16 to 24-year-olds working in retail.

Typically, a younger worker will remain with a retailer for one to two years, while the over-50s stay for between five to 10.

Latest from the National Statistics

Out today. We have reproduced the stats that are most relevant to this age group.

The population of state pensionable age is expected to rise by 32% over the next 25 years from 11.8m in 2008 to 15.6m in 2033.

• The number of people over 85 is projected to more than double over the next 25 years from 1.3 million in 2008 to 3.3 million by 2033.
• The number of centenarians - people who live to 100 - is expected to rise more than sevenfold from 11,000 in 2008 to 80,000 in 2033.
• The proportion of people aged 65 and over is projected to increase from 16% in 2008, to 23% by 2033.

The population of working age is projected to rise by just under 14%, from 38.1m in 2008 to 43.3m in 2033.

In 2008 there were 3.2 people of working age for every person of state pensionable age, but this ratio is expected to fall to 2.8 by 2033, taking into account the future changes to state pension age.

Lateral thinking.........?

In the midst of the political meltdown caused by the fury over MPs' abuse of expenses, some people are still seeing the politicians take, on 'fixing the recession' that happened on-their-watch, as hardly creative or guaranteed to work. Fortunately, there are many more creative minds than ever enter the Houses of Westminster. Here was one suggestion that circululated recently, I suspect only half-jokingly!

'Dear Mr. Darling, Please find below my suggestion for fixing Britain's economy. Instead of giving billions of pounds to banks that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the Patriotic Retirement Plan:
There are about 20 million people over 50 in the work force. - Pay them £1 million apiece severance for early retirement with the following stipulations:
1) They MUST retire. Result - 20 million job openings - Unemployment fixed.
2) They MUST buy a new British CAR. Result - 20 million cars ordered - Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage - Result - Housing Crisis fixed.
4) They must send their kids to school / college /university - Result - Crime rate fixed
5) Buy £50 of alcohol / tobacco a week there's your money back in duty / tax etc
It can't get any easier than that!
P.S. If more money is needed, have all members of parliament pay back their falsely claimed expenses and second home allowances If you think this would work, please forward to everyone you know. If not, please disregard.'

The writer might well have added, 'it could work wonders in also solving some of the looming pension crises!'
This would be an interesting challenge for us over-50s. If such an off-the-wall solution were ever offered (and our political leaders would never be so creative) how many of us would be prepared to retire?
More importantly, how many of us would be able to design a lengthy retirement in in which we can achieve quality of life, purpose and meaning? How many of us could find opportunities, outside of paid work, in which to use our skills and talents, contributing to causes we believe in? How many of us would take that chance to fulfil those long-held ambitions we have never had time for, or engage with the excitement of lifelong learning, just for the joy of continuing to renew ourselves? How many of us could design a 'portfolio retirement' in which we piece together a jigsaw of involvements which would result in us saying, 'I don't know how I ever found time to work?'
We should of course be already planning how to have such a life. Not because the scheme above will ever happen, but because always having an alternative, even when in work, is our security!
'The Rainbow Years' invites reflection on some of these challenges!

The Rainbow Years

Our publisher contacted us the other day to let us know that there has been a spate of reviews of our book on Amazon.co.uk. If you want to have a look just click on the picture of the book on the revolving widget. This will take you straight through to the page and just scroll down.

Thank you to everyone who has contributed a review.

50 + more financially savvy

The over 50s are using their credit cards instead of debit cards while shopping to protect themselves from retailers going under. New research from Saga credit cards has revealed that the over 50s are so aware of the effect of the current economy on retailers, that they are taking steps to ensure they do not lose out if businesses they have shopped at go bust before they receive their purchases. Three in five over 50s (58 per cent) said they are now using their credit cards to ensure their purchases are protected in case a shop goes under because they know their credit card company will allow them to claim a refund if the purchase is over £100. The proportion of the population as a whole that are now shopping using their credit cards in order to protect themselves financially is slightly lower - 46 per cent – which, says Saga, shows that the older generation is "both more financially aware and more eager to protect their purchases." Saga found that other reasons why people are using credit cards as opposed to cash and other cards include the fact that they get cashback and rewards every time they spend on them (32 per cent) and because they help them manage their money (24%). Almost half of the population as a whole (46 per cent) and more than half of the over 50s say it is simply because it is easier than carrying cash. Saga's research also found that throughout 2008, holidays, eating out and supermarket shopping were by far and wide the most regular credit card purchases for the over 50s, which reveals that many of the Saga generation are still finding both the time and money for luxuries. According to the research, Tesco and Sainsbury's came out as the most popular places for this age group to shop – there was no sign as yet that the over 50s are being forced to turn to the discount food retailers for their weekly shop.

Over-50s Could Spend Millions More Online

The over-50s hold the key to continued growth in online food and grocery shopping, according to new consumer research from international food and grocery expert IGD. The report, called the Golden Generation predicts that the value of online food and grocery shopping will nearly double in size by 2013 to be worth £6.2bn (up from £3.2bn in 2008). It suggests that older people today remain open to new ideas and experiences and many enjoy shopping online. However, food and grocery is lagging behind certain other categories and there are some barriers to overcome.

The key issues are delivery charges; ease and security of ordering; and product reliability.

In a survey of just over 1,200 older shoppers (50+) conducted in the autumn, 27% said that they would start shopping for food and grocery online in certain circumstances.

• Nearly half (48%) of those considering online food and grocery shopping would do so if various price issues were dealt with - eg, scale of delivery charges for small orders, guaranteed same prices as in store, and the same promotions available
• More efficient and secure ordering was mentioned by 46% - including greater security against ID fraud, better view of products on the web site and a quicker ordering process
• Two fifths (39%) were unsure about the reliability of product quality and delivery - suspecting, for example, that they would receive products with a short shelf life.

The 'Grey Pound' is proving very attractive and the recession is likely to enhance that attractiveness.

The Rainbow Years published at last!

Mike and I are delighted to announce that our book has been published this week. In addition to bookshops it can be bought at Amazon.co uk, play.com, and also from www.fiftyforward.co.uk. We should point out that all 3 of these sources offer a guaranteed discount. You will probably also get discounts in bookshops but clearly that is unknown to us.

This feels like an important milestone - but only one. That is why we are continuing with this blog and also to contribute to the learndirect fifyforward website. So do watch this space ...

And in Australia

Australians have radically changed their attitude to retirement, abandoning the hope of leaving the workforce at age 55 and opting now for an average of 65.1 years.

That was one of the key findings of research presented today at the Association of Superannuation Funds of Australia national conference being held in Auckland, New Zealand.

The research, conducted by McNair Ingenuity, also confirmed that people aged between 50 and 65 were more likely to be using a financial planner.

Consistent with other previous research, the McNair data also revealed that people aged over 50 were far more realistic about their likely retirement incomes.

Oldies are more realistic

From a survey of over 3000 American adults conducted at two time points spaced nine years apart, Margie Lachman and colleagues found that younger and middle-aged people tended to underestimate their past happiness and to overestimate their future happiness - probably because to do so helps motivate them to strive for a better life.

By contrast, older people (aged over 65) were more accurate in recalling their prior and future life satisfaction - in this case, to do so probably reflected their need to accept their life as it had been lived, combined with their greater understanding of our capacity to adjust emotionally to
whatever life throws our way. Indeed, in line with the predictions of the older participants, most people's life satisfaction, in this study and others, actually changes very little through the years (in Western democracies, at least).

Lachman's team also looked out how adaptive it was for people to have either rose-tinted or darkly clouded views of their past and future. The results showed that at whatever age, it is beneficial to have a more realistic view of the past and future. Those participants who more accurately perceived their past and future happiness tended to suffer less depression and enjoy
better health.

The Mature Market Segmentation Model

Well this mouthful is from a site called Millennium a company that specialises in marketing to the over 50's. I was especially interested as they get into the problematic area of what to call us as they segment us for marketing purposes. They call their model the New Majority which they claim incorporates what they have learned about this market in over 12 years of research, analysis and communications.

They define us as – Thrivers (50-59), Seniors (60-69), Elders (70-79) and Survivors (80+). Well I definitely do not like to be called a senior, Mike is not exactly enthusiastic about being titled an elder and we have friends in their 80's who strongly object to being called survivors. "Makes us sound as if we are sitting in death's waiting room".

This nomenclature problem is very difficult indeed. It would be interesting to get some opinions on this.

How the 50+'s rely on the Internet

New research from Alliance & Leicester Current Accounts has revealed the extent to which the over 50s rely on the internet to help organise different areas of their lives, from their finances through to their love life.

These days, nearly three fifths (58%) of over 50s use the ‘net' to manage their finances, a further two in five (41%) book their holidays online, and almost one in five (18%) regularly log on to social networking websites such as Facebook and Friends Reunited.

With so much use of the internet, it is not surprising that online security is important to the over 50s. While six in ten (59%) of the over 50s say they are happy to buy products online, more than a half (51%) say they need to be sure a site is safe and secure before buying anything, and more than a quarter (27%) will only shop online at UK websites.

It seems that location matters too when it comes to using the internet. While two thirds (64%) feel confident using online banking in the safety of their own home, only 5% feel safe checking their bank balance at work, and only 2% would risk logging-on to their online banking at a shared or public computer, such as a library or internet cafe.

The over 70s have the least confidence to carry out their banking online, with almost one in three (31%) saying they have ‘no confidence at all' banking online, compared with only one fifth (21%) of those aged 50-59. Those over 70 are also more wary of giving their bank details online and more than a third (35%) will only pay for items online with a credit card, compared with just (27%) of those aged 50-59.

Over 50s use of the internet: men v women

There seems to be a divide between the sexes when it comes to having confidence in online banking. Seven out of ten (70%) of men over 50 feel confident banking online at home, compared to only 59% women. Almost one third (30%) of women believe online banking is unsafe and only 29% of women over 50 are happy to input their debit card details when buying online.

However, men over 50 are more conscientious about internet security than women, with almost two thirds (63%) of men claiming to always ensure their security software is up-to-date, with just 56% of women doing the same.

The Joys of Being a Grandparent - I think?

In our book we talk a lot about the grandparent role and the statistics are quite enlightening:

• in the UK 90% of people over 65 are grandparents
• 25% of children are regularly looked after by grandparents
  
• 60% of childcare other than by parents is done by grandparents saving £4 billion a year assuming minimum wage payments
• 44% spend 16 hours a month providing childcare
• 92% of them get no payment

But we do it because we love them don't we! And we don't feel exploited do we? Just how much time should parents expect grandparents to give? Should parents pay for some of this help? If they were members of slivers of time then they certainly would get paid. Jane Fearnley-Whittingstall's book, The Good Granny Companion, tackles a number of these issues in a simple, forthright and commonsensical way. Don't take your grandparent role for granted and don't let your children take you for granted. Any views out there?

Civil Service Abandons Mandatory Retirement

As supporters of the move to abandon mandatory retirement we were delighted to discover that the Civil Service announced plans to remove it across all the Civil Service by 2010.

A number of Government departments have already introduced a no mandatory retirement age policy. In July of this year, Permanent Secretaries agreed to work together to introduce across the remaining Civil Service a no mandatory retirement age policy for staff below the Senior Civil Service by March 2010. Separate work is being undertaken by the Cabinet Office to review the potential for extending this change to the Senior Civil Service (SCS).

Since 2006 a number of departments, employing approximately 50 per cent of Civil Servants, have already introduced a no mandatory retirement age policy – these include Department for Work and Pensions, Her Majesty's Revenue and Customs, Department for Environment, Food and Rural Affairs and the Foreign and Commonwealth Office. In July, Permanent Secretaries agreed to work together to introduce a no mandatory retirement age policy for staff below the SCS in the remaining departments.

A spokesperson from the MOD's Director General Civilian Personnel Pensions team explained what today's announcement means to staff who may be planning to retire:

"I am proud that the Civil Service values all colleagues, regardless of age, and recognises that we must build on the skills and experience of an increasingly diverse workforce so that we can continue to improve the delivery of public services for everyone in society."

They make it very clear that introducing this will not affect the age at which people can take their full pension benefits but it will give them greater choice as to when they choose to retire.

The news was deliberately announced to coincide with Older Peoples Day on October 1.

Cabinet Secretary Sir Gus O'Donnell added:

"Older People's Day recognises the important contribution that older workers make in the work place. Like any successful organisation, we need people who have knowledge and experience in key areas, as well as those with fresh ideas to challenge traditional methods. I am proud that the Civil Service values all colleagues, regardless of age, and recognises that we must build on the skills and experience of an increasingly diverse workforce so that we can continue to improve the delivery of public services for everyone in society.

"The new commitment by all departments to a no mandatory retirement age policy across the Civil Service by 2010, for those below the Senior Civil Service, is an important change to our workforce policy. It is a practical demonstration of our commitment to providing greater flexibility for our people."

Catharine Pusey, Director of The Employers Forum on Age comments, “We welcome the civil service’s decision to remove the unfair and discriminatory practice of being able to insist their employees retire at 65 and hope that it helps focus the Government’s mind ahead of the result of the Heyday challenge". This refers to the case brought by Age Concern to the Hague to abandon mandatory retirement totally in the UK.

Tesco Leads the Way

reports that the number of over-50s staff has reached a record level. One in five Tesco employees are now aged over 50. There has been a 154% rise in the number of over-50s employed in its UK stores compared with 10 years ago, bringing the current total to 54,545. Some of this growth in the older workforce has been down to an increase in the retailer's overall staff numbers, but personnel manager Linda Avis also credits Tesco's pro-older people policies.

These include Tesco enabling employees to work and be developed no matter how old they are - the oldest employee currently working within a store is 80-years-old. The company also scrapped the fixed retirement age (currently the default retirement age is 65).

Working within the UK resourcing team, Avis said: "We are now seeing that our over-50 workforce is not only formed of employees who have worked their way through the ranks within Tesco, but increasingly, those who have decided to join Tesco later in life. Many of these new recruits have decided they would like a new challenge and have chosen to follow a new and exciting career path at the age of 50 or over."

Of the 1,843 people currently on Tesco's internal development programme, 366 (20%) are over 50. And more than 10% of Tesco's store manager positions are filled by the over-50s, who also account for 14% of its senior team and 10% of its line managers.

Avis added that employing the over-50s has reaped its UK stores huge benefits.

"Staff turnover is at its lowest point within the over-50 age bracket, especially the 50- to 59-year-olds," she said. "We benefit from the loyalty and reliability that this age group provides and we, therefore, endeavour to continue to tackle the outdated stereotypes about the ageing population and hope that the government will go some way to highlight the many opportunities that inter-generational working can provide."

We are collecting data on the companies that recognise the value of retaining, recruiting and developing older employees so if you know of one please let us know.

The Rainbow Years: The Pluses of Being 50 Plus

At the age of 65 I have decided that it is about time that I began blogging on my own. Mike Scally and I have a new book being published by Middlesex University Press at the end of November called, not surprisingly, The Rainbow Years: The Pluses of Being 50+.

This is accompanied by a website www.fiftyforward.co.uk. We were the subject matter experts for this site which was launched by learndirect earlier this year and is aimed at all the areas of mature living that we discuss in the book. The site is freely available.

One of the frustrations of publishing a book is that from the moment it is printed it is out of date, and these days faster than ever, so I have decided to use this blog to update people interested in this topic with the latest news, stats, viewpoints and even gossip relevant to this age group.

We really are a generation unique in human history - healthier, wealthier, happier, fitter, more long living than any previous generation.

Watch this space as we will endeavour to prove this from here on.