Pictured above: Tony Russell, Fraser Brown.
As Britain becomes an ageing nation, a local solicitor says
businesses in Nottingham must get ready to embrace older workers
and encourage employment beyond the current default retirement age
of 65.
Tony Russell, Partner and Head of Employment at Fraser Brown
made the statement after the Institute of Directors called for the
retirement age to be raised to 70 to solve the pension crisis and
the Office for National Statistics announced that almost a quarter
of the UK's population will be 65 or over by 2033.
Although employees have a right to ask employers to consider
allowing them to work beyond 65, employers can force staff to
retire at 65 whatever their circumstances. Employers can expect
Government and the European Commission to keep this under regular
review however.
Tony said, "As we live longer it becomes more costly to retire.
Many have seen pension funds reduced dramatically and final salary
schemes are no more. So, people want to work for longer - even if
the only reason is because they can't afford not to.
"It could be argued that a compulsory retirement age is at odds
with anti-age discrimination legislation anyway, which prevents
employees from being denied a job, equal chance of training or a
promotion because of their age.
"Either way, employers should prepare to support their older
workers up to and beyond retirement age and ensure the employment
policies or procedures they have in place reflect this."