Older workers plan to go past 65
Recent research has shown that those approaching retirement are now predominantly planning to work beyond traditional state retirement ages – over 70% of those currently over 55 have such plans. This nearly doubles the figure of two years ago. No prizes for guessing that the state of the economy, the reduction in house values and the impact on pension funds are the significant factors here: the older populace has not suddenly developed a yen to go on working.
These plans raise a number of issues for employers and employees. On the employer side, plans have to be made in a number of fields to accommodate these older workers, many of whom will have the legal right to stay on because of likely changes in the law that will have developed by the time they do reach 65. However, with the statutory default retirement age at 65 still in place employers may seek to ensure that those reaching 65 are culled because, if not, changes in the law planned by this government for the next year or so may give those older staff protection to a greater age, perhaps as much as 70.
So, in the short term those getting close to 65 who do want to work on past that age would be well advised to make themselves as indispensable to their employers as they possibly can in order to make it less attractive to the employer to force a retirement. Also, employees should use every available right to question, challenge and appeal any attempts to be forced into retirement by the employer, making sure that the Age Regulations are observed by employers but also making use of the somewhat limited protection they give.
