Do you agree with the scrapping of the fixed retirement age?
The government is planning to scrap the default retirement age in the UK from October 2011.
Under the proposal, employers would not be allowed to dismiss staff because they had reached the age of 65.
Do you agree with the move?
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I think so. More and more people are fit and healthy at 65 so I don't see why they shouldn't carry on working if they want.
Absolutely!! My pension provider keeps saying we are living too long. It's a clear indication that people's lives are streching so why not their working life too? If I'm fit enough, I will certainly be willing.
I do agree with the move. I think it is a necessary reaction to the demography of society, with everyone living longer and being fitter for longer, it is beneficial for organisations to retain skills and for individuals who are happy/able to carry on contributing – not to mention making pensions more affordable.
However, as an individual in the early stages of my career, I am worried I will be waiting a lot longer to progress to more senior position. The slower turnover of older employees is bound to have an impact. O’well that’s just life I guess!
From a purely selfish point of view I kinda agree with Paul. Great that older people are being encouraged to carry on working, just not at my expense please :)
Agree with the above. I don't think people should necessarily be forced to retire but I for one will hopefully have done so well before hitting 65. Or at least have semi-retired. :)
Paul
I am in agreement with the move to scrap the default retirement age as longer life expectancy and fitness to work should be reflected by employment legislation. However, the issue of job blocking is going to have to be faced at some point (Paul's point above). The baby boomer generation will once again benefit at the expense of the younger generation who will find it much more difficult to find jobs and achieve progression. Part of the solution will be innovative employment solutions such as part time or flexible working and possibly economic growth which will provide the jobs necessary for the young to find employment.
From my angle it seems to be an invite to work until I drop.... Whilst I think people should have the choice I suspect this is a less than subtle move to amend the payout for any state pension.
I for one want to actually retire when I can do something with the sunset years.
The state pension is kinda bankrupt though. I'm sure someone will pull me up on my figures but the ol' grey matter seems to remember reading that state pensions alone will cost 30% or so of all tax revenues unless something is done to change the system.
So not only will the young probably not have a state pension when they retire, not only will they struggle to progress as the old codgers are kept on, they'll have to pay extra in taxes to fund the situation they find themselves in.
Gotta love it hey?
Britain will go bust by 2060 unless it sticks to tough austerity measures even after George Osborne's spending squeeze as the population gets older, the Office for Budget Responsibility warns today.
http://www.walletpop.co.uk/2011/07/13/britain-bust-by-2060-without-austerity-measures-as-population-ag/