Saga pensions calls for stepped retirement

www.moneynews.co.uk > Pensions > Saga pensions calls for stepped retirement

Saga pensions calls for stepped retirement

Fri 30th Jul 2010

The government should opt for a policy of stepped retirement by negotiation, according to an expert from Saga pensions.

Emma Soames, editor-at-large of Sage Magazine, made her comments after it was announced that the default retirement age is to be scrapped, with the new legislation being put in place from October 1st 2011.

She stressed that Saga pensions has been arguing for this change to be made for a long time and many pensioners will welcome the policy, in her opinion.

"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," explained Ms Soames.

An analogy that the Saga representative offered is that retirement should be more akin to strolling on the beach than falling off a cliff.

Recent research by the company suggested that many over-60s are currently using the equity in their homes to fund holidays abroad and other projects.

Click here for more pensions news

Related News : Pensions
	Over-55s don't believe in paying for care, reveals Aviva
	East Midlands comes top in pension contributions
	Corporate pensions provider issues advice for businesses
	One third of workers have no pension, claims Prudential
	More than a third of Brits fail to reassess pension risk, claim experts
	Women protest at No 10 over proposed pension reforms
	Retirement age 'to be brought forward by ten years'
	Interest rates held at 0.5 per cent by Bank of England
	Pension contributions fall in recession, ONS reveals
	Equity release for retirement 'might not suite every household'

Related News : Saga
	Travel insurance 'is essential for holidaymakers'
	Interest rates held at 0.5 per cent by Bank of England
	Saga extends travel insurance policy to cover holidays at home
	WRIC report claims private sector needs to do more for pensions
	Watchdog criticises personal pensions market
	Saga chief discusses pensions calculator proposals
	Saga describes women's pension decision as 'a cruel blow'
	Saga chief suggests utilising property to boost pensions calculator
	Retirement calculator change will benefit women, says Saga
	Saga points out issue affecting retirement calculator customers