Scrapping the default retirment age, Retirement age on the increase,
Scrapping the default retirment age, Retirement age on the increase,
Scrapping the default retirment age, Retirement age on the increase,
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Home Page > Law > Scrapping the default retirment age, Retirement age on the increase,
Scrapping the default retirment age, Retirement age on the increase,
Posted: Feb 21, 2011 |Comments: 0
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The choice to remove the DRA (Default Retirement Age) has been revealed a few days ago, making it possible for staff to remain at work even after turning 65. Lots of lawyers support this judgement, and think that it helps companies succeed in the end.
Beginning from the 1st of October, companies will not be able to fire older staff members that are still capable of finishing work. Such employees must continue to maintain the standards expected of all staff whatever their age may be, and based on the company’s reasoning, might be terminated due to other reasons as long as they are considered objective.
In the modern era, it is becoming more of a reality that we may have to work longer as advances in medicine and quality of life are allowing us to live longer. Because of this, pension plans that were put in place by companies can no longer support retirees for such long periods of time. This is severely affecting many sectors, and is the reason for many of them putting defined contribution schemes into effect.
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With the idea of scrapping the retirement age, the government is attempting to solve the problem of these lengthy and costly retirements by allowing employees to continue working after the age of 65. Along with this, many believe that this decision could have a positive effect on the workplace.
Businesses and lawyers will agree that by terminating the current default retirement age it can bring success for the business and wider society according to the Law Gazette “Research has shown that mixed-age work teams bring increased customer satisfaction, creating more business and more jobs for more people.”
This new employment law is sure to bring many adverse ideas to the table. With no prior laws relating to this subject in place, it is a new experience for the UK, and the working world will have to wait and see where it takes them.
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Greg Jacobs -
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IBB Solicitors are leading <a rel=”nofollow” onclick=”javascript:_gaq.push(['_trackPageview', '/outgoing/article_exit_link/4277662']);” href=”http://www.linkedin.com/companies/ibb-solicitors”>West London lawyers</a> and recognised in The Legal 500 as a South East regional heavyweight. We are a full-service law firm handling complex legal work for both businesses and individuals across four main practice areas – Real Estate, Commercial, Private Client and Community Legal Services.
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I am 60 yrs. young and have been getting Disabiity since 2001. When I reach retirement age, will I still be getting Disabilty Ins. or will I have to switch to retirement even tho I am still disabled?
What should be the retirement age of politicians ?
I wud like to know if u get mortality rate( % chance that one wud die at a given age) and multiply it with the projected expenses from current age till retirement, will it give exact cover reqd
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west london lawyers, west london solicitors, west london lawyer, west london solicitor
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It’s another day of unrest in France, where Marseille’s airport has been blocked by protesters and further demonstrations are planned in Paris. It’s all part of the anger at proposals to raise the retirement age from 60 to 62, which would still be one of the lowest in Europe. Violence broke out in Lyon on Thursday morning, where police chased rampaging youths who overturned a car. Lyon also saw clashes on Wednesday between youths and police over French President Nicolas Sarkozy’s austerity measures. French protesters blockaded Marseille’s airport on Thursday, ahead of a possible Senate vote on raising the retirement age. Hundreds of workers blocked all access to the main airport for about three hours. Students barricaded a Paris high school and planned protests nationwide later on Thursday, as the Senate wraps up protracted debate on a reform that Sarkozy calls crucial to his presidency. At the Turgot high school in central Paris approximately 150 students barracked the front doors of the school with rubbish bins.
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