Compulsory retirement age at 65 fully abolished - UK

[dipsydoodle]

Source: BBC News

The default retirement age in the UK has been fully abolished after being phased out from April this year.

New legislation stops employers from compulsorily retiring workers once they reach the age of 65.

However, research by law firm Norton Rose suggests one in 10 firms plans to offer financial incentives to encourage workers to move on at a certain age.

The charity Age UK welcomed the legislation but said age discrimination was still prevalent in the workplace.



Read more: http://www.bbc.co.uk/news/business-15127835

[legin]

1. Actuarial Study of life span vs. age at retirement

Age at Retirement .... Average Age At Death

49.9 ------------------ 86
51.2 ------------------ 85.3
52.5 ------------------ 84.6
53.8 ------------------ 83.9
55.1 ------------------ 83.2
56.4 ------------------ 82.5
57.2 ------------------ 81.4
58.3 ------------------ 80
59.2 ------------------ 78.5
60.1 ------------------ 76.8
61.0 ------------------ 74.5
62.1 ------------------ 71.8
63.1 ------------------ 69.3
64.1 ------------------ 67.9
65.2 ------------------ 66.8

from:
http://faculty.kfupm.edu.sa/COE/gutub/English_Misc/Retire1.htm

[DrDan]

2. link does not work - facinating stats

[legin]

3. link fixed I hope. n/t

.

[BeyondGeography]

9. Thanks for that

Life-affirming stuff. :thumbsup:

[cstanleytech]

4. Assuming thats accurate I wonder if it also is linked to income with

the lower retiring age being more wealthy thus not having to work themselves to death all their lives.

[legin]

5. Interesting thought.

I'm not toally in love with the source of my figures also.

[joshcryer]

11. Likely, plus, that extra 15 years of working in later years has a serious toll on ones health.

[DrDan]

14. the link pints to that issue

[USA_1]

13. Not Sure About These Actuarial Numbers

People who retire early very often come from wealthy backgrounds. Because of this they can take it easy in life and have access to great health care. By contrast, those who are poor have to work more years and often at far longer hours. They have less access to quality health care and most likely die younger from these and other factors attributable to poverty and being underprivileged.

[CountAllVotes]

15. interesting info. there

>>On the other hand, if you are not able to get out of the pressure-cooker or the high-speed battleground at the age of 55 and “have” to keep on working very hard until the age of 65 or older before your retirement, then you probably will die within 18 months of retirement. By working very hard in the pressure cooker for 10 more years beyond the age of 55, you give up at least 20 years of your life span on average.

I have a good friend that needs to retire NOW. She plans to wait until she is 65 years of age (this way her husband will have the cadillac health insurance she has via her employer). It sickens me as I fear she has early-onset Alzheimer's disease. :(

:dem: :kick: & recommend.

[jtuck004]

6. That's nothin'. We "retired" people at 50. By the millions. /nt

[dipsydoodle]

7. The point is

that employers will no longer be able to MAKE staff retire at that age.

[jtuck004]

12. I fully well understand that. And even without a law that requires

compulsory retirement, we have "retired" millions of people at around age 50. We didn't even need a law. All we needed was for banksters and their friends in government to create a huge Ponzi scheme, then try to re-inflate with trillions of taxpayer dollars when it failed.

For millions of these good people, our neighbors, there will be NO other income of consequence or
perhaps working poverty until SS kicks in.

____________

As far as the OP, I do think it's good idea they got rid of their law. I wonder if it was easier in our current global squeeze.

thanks

[Cool Logic]

8. In a free society, employees as well as employers,...

should be free to decide whether or not to continue their relationships.

I was unaware that the UK had such a bizarre policy.

[hunter]

10. Great. More unemployed young people to fuel the revolution!

That's hope, dread, or sarcasm... I'm not sure which.