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Plans to scrap retirement age 'long overdue'

Plans to scrap retirement age 'long overdue'

Labour plans to scrap the default retirement age announced by deputy leader of the party Harriet Harman are long overdue, it has been claimed.

Responding to the comments made by the politician, in which she revealed that a "massive policy change" is due to take place on this issue, pensions expert Dr Ros Altmann said she is supportive of the proposed measures.

The expert remarked: "Basically we need to encourage and facilitate people working longer. We are wasting so much of our precious national resource by forcing people to retire before they might be ready."

She went on to state that employees should not be made to remain in work, but, if they wish to, they should have the option.

It is not right for firms to get rid of staff members simply because of their age, she added.

Dr Altmann also claimed that pensions alone may not provide people with sufficient money for their later years.