Standard Life: Retirement review welcome

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Standard Life: Retirement review welcome

Standard Life has announced that the review of the compulsory retirement age by the government is welcome news to many older people.

John Lawson, head of pensions policy at Standard Life, said that their own recent research had revealed that many people approaching retirement age do not see it as a time to stop working completely.

In fact, many people approaching 65 now believe it is a way for them to carry on working, but under their own terms.

Many of those who are at the traditional retirement age are far more ambitious than any generation before them and see it as an opportunity to continue working towards their own goals.

However, Mr Lawson added that for many people, the idea of leaving the world of work behind them is an unrealistic dream due to financial reasons.

Additionally, those with higher salaries could find themselves with a smaller pension than they had planned, as the government has extended its restrictions for tax relief on those earning more than £130,000.

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