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Firm welcomes scrapping of default retirement age

Firm welcomes scrapping of default retirement age

A firm has welcomed the government's decision to scrap the default retirement age.

At present, employers are able to make a member of staff give up their role once they reach the age of 65 even if they do not want to.

However, in his Budget earlier this week, chancellor George Osborne revealed the new Conservative/Liberal Democrat coalition will change the law to ensure this is no longer the case.

Responding to the development, Standard Life said it will help people who wish to remain in their posts.

Senior pensions policy manager at the company Andrew Tully stated: "This is a positive move by the government, as the traditional notions of retirement are long gone. People do not want to be told they should stop work at a certain age."

The development is one of a number of measures being taken by the government to reduce the pensions deficit that exists in Britain.

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