Changes to the retirement age

With the value of pensions and savings falling sharply, increasing numbers of people not only wish but need to work beyond the normal or default retirement ages (65 for men and 60 for women). The Government is actively considering changing these long-accepted norms and has published a Green Paper entitled ‘Building a society for all ages’. The Government is now assessing the information and evidence collated regarding the following:
 
  • the reasons that employers rely on the default ages and what impact there would be if those default ages should be removed or raised
  • what problems employers encounter where they operate without a default retirement age
  • what the benefits and drawbacks may be of raising or removing the default retirement ages

New legislation is clearly possible.  If the Government should choose to abolish the present default retirement ages, this could have a radical effect upon many businesses.  While pension deficits may to some extent be reduced, depending on how the relevant schemes are designed, employers may not be too keen to find themselves defending claims for unfair dismissal brought by very elderly employees whose right to claim is no longer brought to an end upon their reaching a notional default retirement age.  We will be closely watching for any legislative proposals in order to advise our employer clients accordingly. 

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For further information or advice please contact our employment law teams: Bromley Office  0208 464 4242 or London Office   0207 242 7265 or email employmentlaw@wellerslawgroup.com 

 

 

 

 

 

Bromley Employment law solicitors, London employment law solicitors 

 

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