The Workplace is Changing: What That Means for Your Retirement

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The way people work today is being disrupted by the pandemic as well as other trends, according to a new study recently published by Aegon.

In an interview, Catherine Collinson, the executive director of the Aegon Center for Longevity and Retirement, said the world of work is changing—but said it was changing even before the pandemic.

And there are a number of major trends driving that change, she said.

One, people have the potential of living longer, meaning people will either spend more time in retirement or more time in the workforce. “And what we see is people want to do both,” she said.

Two, almost three in five workers (58%) “somewhat” or “strongly” agree that a “job for life” is becoming a thing of the past. “There are all sorts of possibilities,” Collinson said. “And even more possibilities now that we're in the pandemic and many people's employment situation has been disrupted.”

And there are other subtle differences in the workplace. “Older workers are potentially less likely to get raises or promotions,” she said. And some industries, like the tech industry, are notorious for being youth-centric.

But Collinson also sees these revelations as an opportunity to change, “especially now, as we're talking about inclusion and diversity on the broadest possible scale.” “Ageism,” she said, “is something that also should be addressed.”

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