Workers are confused about when they should start thinking of retiring and have done little to plan for their future, according to a report today.
Research by the Institute for Employment Studies showed employees in their early fifties are failing to organise their retirement.
The study found the recession altered the retirement landscape "significantly" as redundancies and recruitment freezes led to higher levels of unemployment among the older workers.
"Not only might older workers potentially be an easy target for companies looking to cut costs, but those losing their jobs cannot afford to take the early retirement as they might have done in financially healthier times," said the report.
Marie Strebler, of the Institute for Employment Studies, said: "Employers seem to be stuck in reactive mode. They provide retirement support, however they are failing to encourage people to stay, treating requests on a case-by-case basis and thus missing opportunities to retain much needed and valuable skills.
"Older workers are an asset, but a tremendous shift in deep-seated stereotypical attitudes to ageing and work is required if employers want to foster a culture where early retirement and prolonged working lives co-exist.
"Negative attitudes and stereotypes in the workplace have not necessarily disappeared with the advent of age discrimination laws. In tougher times there is a risk that cuts will have an adverse and disproportionate impact on older workers."
