Legal - Retirement regulations: Retirement age heading for the horizon
Changes to the age of compulsory retirement will have an impact on brokers and their clients. Alex Lock looks at potential financial implications and risks to consider.
The government recently launched a consultation on scrapping the default retirement age in the UK. Currently, an employer can force an employee to retire at the age of 65. Under the new plans, employers could not force an employee to retire because they had reached 65. If they do wish to retire an employee, they will need to provide a clear, objective justification setting out a legitimate aim and that having that compulsory retirement age is a proportionate means of achieving it.
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