The increase of employees age 60 and older in WIA: opportunities and possibilities for employers.
Many inflows into WIA and few outflows
Those over 60 are rapidly becoming the group with the most disability. By the end of 2023, 61,761 people in this group had WIA benefits. This is 14 percent more than a year earlier. Among those over 65, the increase was as much as 30 percent. Only a very limited number of people from this group flowed back out of WIA. This is mainly because they retired and went from WIA benefits into the state pension, not because they returned to work.
This development has major implications for both the employee and the employer. It is important to be proactive and look at possible solutions to prevent or reduce dropout and allow employees to reach retirement as healthy as possible.
Promoting employability of older employees
Fortunately, the Pension Agreement includes additional options for employers to promote the employability of older employees and prevent entry into the WIA.
The Generation Scheme and the Early Retirement Scheme are tools that can help with this. These plans provide an opportunity for older employees to continue working responsibly or retire earlier, creating room for the influx of younger employees.
Differences Generation Scheme and Early Retirement Scheme
In a Generation Plan, you make arrangements to work less, partially maintaining your original pay and pension. Under the Early Retirement Scheme, the employee stops working altogether and retires.
As an employer, how can you respond?
As an employer, it is important to respond in time to developments in your population of employees. Make a plan for the future by looking strategically at your workforce, engage with employees about their vitality and employability, and look at the opportunities offered by the Generation Scheme and the Early Retirement Scheme.
By implementing a good policy on sustainable employability and actively involving older employees in this process, you can contribute to the retention of experienced workers and healthy advancement within your organization.
Exchange views on this topic?
We would be happy to tell you more about the options available in the field of the Generation Scheme and the Early Retirement Scheme. And in what way you can integrate this into your strategic HR management and thereby add value for both your employee and your organization!
Employees who are healthy and vital reaching retirement age want to continue working longer themselves in some situations. You can read more about it in one of our next newsletters.
Contact René van Uitert or one of our other Human Capital specialists at corporatewellness@krollerboom.nl.
