There are both winners and losers if default retirement age is abolished
February 8, 2010
The Equality and Human Rights Commission has recently renewed its call to the Government to scrap the current default retirement age of 65. A review of the default retirement age is due to take place this year and the Government has indicated that this is likely to result in a "massive public policy change" in order to give older people more flexibility in their retirement options. But what would the total abolition of the retirement age mean for employers in practice?
It is clear we live in an ageing society and all the political parties will be keen to court the grey vote in the run up to the general election - older people are much more likely to turn out to vote than the under-30s. As people remain healthy for longer and as pension benefits become less generous (particularly where pension investments have been substantially diminished as a result of the recession), more and more people are keen to continue working after 65.
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