The new retirement age – implications for employers and employees

Posted by Ian Bird in Employment law on Thu, 26/08/2010 - 09:56

A radical shake up of the state pensions announced by the coalition government will involve an acceleration of the plans to raise the retirement age in order to help reduce the budget deficit and a plan to scrap the default retirement age of 65 from 1 October 2011.
 

These controversial announcements have received some mixed reactions. Unions and campaign groups have argued that these changes will penalise manual workers and the poorest in society, who live in areas where life expectancy is lower. And, whilst many business groups have welcomed the plans, some have expressed concerns about the practical implications and risks to employers if the default retirement age is abolished.

So what are the implications for businesses and employees? How can employers plan for these changes and help their employees plan ahead for retirement?

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Editor's Welcome

 

Hello! And welcome back as we enter 2012, with a busy year ahead of us all. With talk of double-dip recessions, a possible partial or even full break-up of the Eurozone and unemployment rates set to hit nearly 9%, topics such as organisational streamlining, staff resilience and talent management are likely to be on many an HR professional's lips over the next 12 months.
 
But to lighten the gloom here in the UK, we also have the Queen's Diamond Jubilee and its attendant public holidays to look forward to at the start of June. Followed by two weeks of Olympic Games from 27 July to 12 August and the Paralympics from 29 August to 9 September, each generating their own excitement, but also issues to work through for hard-pressed HR departments trying to sort out the multifarious staffing issues in advance.
 
So with an interesting but challenging year to come, HRZone promises to be with you, supporting you all the way and providing our usual insightful blend of news, analysis, community blogs and expert comment to help you sort the wheat from the chaff. As ever, we love to hear from you too so feel free to either post your words of wisdom to our blog section yourself or, in the case of longer, more in-depth ‘expert voice’ articles, drop me a line with any ideas to cath.everett@siftmedia.co.uk.....
 
Cath Everett
HRZone Editor 
 
 
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