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Older workers well served in NZ

NZ NewswireNZ Newswire 14/06/2016

<span style="font-size:13px;">A report suggests offering financial inducements to keep older people working longer to improve NZ's ranking in making the most of aged workers.</span> © Getty Images A report suggests offering financial inducements to keep older people working longer to improve NZ's ranking in making the most of aged workers. When it comes to making the most of older people in the workforce New Zealand is ranked second-best in the world but could still do better.

New Zealand was tucked in behind Iceland in the latest PwC Golden Age Index which tracks how well economies are making use of workers aged over 55 across 34 OECD countries.

The index, which uses indicators - including employment, earnings and training - ranked New Zealand ahead of Sweden, Norway and Estonia.

It is unchanged from last year but PwC consulting partner Scott Mitchell says their remains room for improvement.

"New Zealand is consistently well ahead of the pack when it comes to supporting older workers," he said.

"However, there is still more for businesses to do to support mature workers. Flexible working arrangements are a start, but we really need to see a cultural change as the number of older workers in New Zealand is projected to grow."

New Zealand has climbed the rankings in the survey since it started in 2003 and it has seen a growing employment rate for those in the 65-69 age bracket, with the percentage nearly doubling compared since then.

The report says to improve on its results the country could do the following:

* Encourage later retirement via financial inducements to continue working past the official retirement age

* Improve employability through lifelong education and training

* Reduce employment barriers for older workers to prevent labour market discrimination

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