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Default retirement age: stroll on the beach, not a jump off a cliff

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Saga supports government plans to get rid of the default retirement age. Emma Soames of Saga says the real challenge surrounding the scrapping of the default retirement age is to make the process more a stroll to the beach than a jump off a cliff, "There is a new challenge of finding what makes a good retirement. That means moving it from a cliff-edge decision - you're in work or not - to one where people have options to go part-time, so retirement becomes a process of a stroll down to the beach rather than a jump off the cliff edge. Thousands will welcome the announced end of the default retirement age, a step Saga has long argued for. The way forward must be stepped retirement by negotiation. Assuming good health and the desire to work on, millions of people in their 60s will want to continue to work part-time. Retirement will become a gradual process - a walk through the dunes rather than a jump off a cliff from full-time work. 0ver-50s show a great enthusiasm for part-time work living on a mixture of pension and earnings in retirement."

 

Companies will no longer be able to force people to retire at 65. Insurers should amend their insurances so that those over 65 are not denied cover. Individuals should ensure that existing and new insurances do not suddenly cease cover at 65 or even earlier, and are flexible to give you the choice of when to retire.

Health insurance: News update: 6 August 2010