Amendment to retirement calculator necessary, says Hargreaves Lansdown

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Amendment to retirement calculator necessary, says Hargreaves Lansdown

Tue 14th Dec 2010

A source from Hargreaves Lansdown has suggested the removal of the default retirement age is not only advisable, but necessary as well.

Pensions analyst at the investment management firm Laith Khalaf explained that people must be allowed to work until their late 60s or even into their 70s.

He said: "The government is trying to encourage people to work longer and people are going to have to work longer, because the state pension is rising and ... people are living longer."

Mr Khalaf claimed this situation means the state pension has to be brought under control and the default retirement age must be reviewed.

This week, Saga director general Dr Ros Altmann added her support to state plans, urging the government to ignore calls to postpone the scrapping of the retirement threshold.

She suggested it constitutes a form of ageism to assume people can no longer do their job due to how old they are.

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