Employee risk costs could soar under retirement proposals
The Government's decision to scrap the default retirement age from October 2011 could lead to key benefits becoming uninsurable for older employees, Mercer has warned.
The Marsh and McLennan subsidiary said that the proposal, which would prevent employers dismissing staff because they had reached the age of 65, was likely to bump up the cost of providing employee risk and healthcare benefits.
Mercer has urged companies to review their existing benefit structures to ensure they remain cost effective and reflect the requirements of an older workforce.
Jamie Marshall, principal in Mercer's Health and Benefits business, said: "Changes to demographics in the
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