By Felicity Anderson.

Recent research has highlighted the rise of a “disheartened and discouraged over-50s,” workforce, that feels unsupported by employers and yet confident about their skills in the workplace.

Insurance firm Aviva, surveyed 2,500 adults, finding that almost two-thirds of over-50s in work, that’s 6.4 million people, were planning to retire later than they expected to 10 years ago.

It has warned firms that failure to support these employees could mean discouraged employees whose skills aren’t fully utilised to the benefit of the business.

Urging employers to do more to help over 50’s, Aviva has suggested allowing flexi-time and providing advice on retirement finances.

“Lot’s to offer at work,”

Lindsey Rix, managing director of savings and retirement at Aviva said staff needed “fulfilling careers regardless of their age”.

“Our findings suggest that older employees have a lot to offer at work, despite the challenges they face around workplace support,” she told the BBC.

The survey found that up to 40% of employees over 50 were working longer than expected down to increased living costs or lack of savings.

Pension fraud targeting the over 55’s

These findings come the same week that Action Fraud highlighted the scale of pension fraud targeting over 55’s, with victims of this type of scam losing an average of £91,000.

Preying on over 55’s down to new rules that allow them earlier access to their pension pots, fraudsters use a variety of tricks to scam victims out of their hard-earned money.

The BBC has reported that city regulators are launching a campaign to boost awareness of pension fraud, targeting those in their 40s, 50s, and 60s.

They want people to check any pensions firm they deal with is authorised by the Financial Conduct Authority (FCA.)

Action Fraud received 253 reports of pension scams in 2017, with the victims losing more than £23m between them.

This number, however, is unlikely to highlight the real scale of the problem with many victims failing to come forward and report the crime.

The Financial Conduct Authority’s Financial Lives report suggested that 107,000 people aged 55 to 64 could potentially have been victims of pension scams last year, according to the BBC.

Employment woes and pension fraud targeting older workers

Pension scams to watch out for

The tactics adopted by pension fraudsters vary but usually start with an unsolicited approach, either by phone, email text or a social media post.

Victims may be offered a free pension review or tempted by an offer to make big returns on pension savings.

The money is often either stolen or transferred into a high-risk scheme that’s inappropriate for pension savings.

“Prevention is better than cure,”

Mark Steward, director of enforcement at City regulator the Financial Conduct Authority (FCA), said the new campaign run by the FCA and The Pensions Regulator featuring a TV advert first airing this week, aims to end pension fraud:

“We can enforce. We can investigate. We can prosecute. We can continue doing all those things, but they are hard and they take time and they do not give people the money back that they have lost,” he said.

“Prevention is better than cure, so we want to give people some handy tips to be aware of, particularly if they are being confronted by fraudsters.”

Another step that it is hoped will put an end to this type of fraud, campaigners are pressing the government to introduce a pensions cold calling ban that was first announced nearly two years ago.

After the latest consultation, the new ban is scheduled to be in place by the autumn, according to the government.