While the Government drives reversible retirementso that retirees can return to work, the OECD (Organization for Economic Cooperation and Development) warns that mobilizing senior talent (of those over 45 – 50 years) would add about 0.26 points to the Spanish gross domestic product (GDP). A third of people of this age feel discriminated against in work interviews and seek the option to get a job but, at the same time, collect their retirement pension.
The ‘V Barometer of the Senior Consumer’, prepared by the Ageingnomics Research Center of the MAPFRE Foundation (you can read completely in this link) points out that in Spain there are more than 530,000 people over 55 years of age, figures that directly contrast with the Youth employment, which is still up. Now, when the 55 years are turned (and even 45) the complaint is the same. There is age in the labor market, so the debate is still open and is focused on the sustainability of the pension system and the economy in the aging of the active population.
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Thus, 38% of those over 55 want to make the collection of a pension with that of a salary in the future, although 44% indicate that it would prefer to retire before 65. Therefore, the paradox is clear, although there is an intention to continue working, there is also tiredness and lack of incentives to prolong working life.
The use of those over 55 promotes the Spanish economy
The OECD has assured in one of its latest reports that if Spain manages to mobilize the collective of unemployed people over 55 years, the Spanish economy would be improved up to 0.26 percentage points of GDP. Now, age discrimination remains an impassable wall that is condemning the invisibility of thousands of experienced professionals.
According to the National Statistics Institute (INE), more than 530,000 people over 55 were in active job search at the beginning of the year. Now, the Government through the Ministry of Inclusion, Social Security and Migrations is working to boost reversible retirement, where there are 32% of Spaniards between 55 and 59 years and 23% of those who are between 60 and 64 years old who have felt discriminated against when looking for work, accessing health services or banking products.
The Mapfre Foundation has summarized this reality, pointing out that “new policies and recommendations must be accompanied by a deep cultural change in companies and in society,” as Juan Fernández Palacios, director of the Ageinnomics Center, has declared. “We cannot afford to miss the talent of people over 55, and for this the creation of more flexible work environments, without prejudices and possibilities of professional development, is key.”
Half active Senior wants to retire before 65 years
Although what is promoted is that working life lasts, more than half of active senior workers stand out that they want to retire before the age of 65 and only 15% of those who have already retired say they would have liked to work beyond this age. Which shows that, on many occasions, the output of the labor market is not of its own will, but because there are structural barriers.
The report insists on the urgency of building a labor market that is inclusive and adapted to workers over 45 years. Because if not, Spain would lose economic impulse, experience and knowledge of a generation.