HMRC umbrella company ‘checking tool’ looms for workers
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READ MORE2020-21 retirees experiencing poverty
Recent research from the Institute for Fiscal Studies (IFS) challenges the idea that those who've left the workforce have done so because they're well off.
“As many as 48% of 50- to 70-year-olds who left their jobs in 2020-21 had since experienced relative poverty,” The Guardian reports. “Relative poverty is defined as living in households with income below 60% of the median.”
With the UK lagging behind other nations in employment recovery post-COVID, and the IFS reporting that a smaller proportion of those who retired in 2020-21 than in previous years had access to state or private pensions.
The Guardian includes comment from IFS senior research economist Xiaowei Xu, labelling government policies such as the ‘mid-life MOT’ critical to supporting older workers to rejoin the labour market.
Read the full story at The Guardian.
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