Prudential calls for more flexibility on retirement age

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Prudential calls for more flexibility on retirement age

Fri 6th Mar 2009

Prudential has recommended that more flexibility should be offered when it comes to retirement age in the UK.

At present, employers in the UK can legally force workers to retire at the age of 65. Age Concern sought to overturn this in the European Court of Justice this week, but the court ruled in favour of the state.

The decision disappointed Prudential, which argued that the rule is too rigid - particularly at a time when many people are having to work beyond retirement age if they are to have enough money to see them through retirement.

Karin Brown, Prudential annuities business director, said: "The current economic situation is making it increasingly difficult for many people to retire when they would like."

Prudential published research this week which showed that 2.2 million people aged over 45 in the UK have reconsidered their plans to retire this year.

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