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Retirement age increases 'to be speeded up'

Retirement age increases 'to be speeded up'

The speed at which increases in the UK's retirement age occur will rise, the government has announced.

Ministers have noted they intend to raise the state pension age for men to 66 and the alteration could be in place by 2016.

This may subsequently go up to 70 and potentially beyond in the decades to come.

In addition, the default retirement age - which currently stands at 65 - is to be axed.

At present, employers can force a staff member to retire once they hit this milestone even if the individual wishes to remain in their role.

Commenting on the plans in an interview with the Daily Telegraph, Iain Duncan Smith - who was leader of the Tories some years ago - said: "People are living longer and healthier lives than ever and the last thing we want is to lose their skills and experience from the workplace due to an arbitrary age limit."

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