Allianz notes pensions calculator issue

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Allianz notes pensions calculator issue

Tue 18th Jan 2011

A legal expert from Allianz has pointed out that companies will still be able to enforce their own 'employer justified retirement age' in future, despite the scrapping of the national threshold.

Richard Simpkins, a solicitor in the company's legal protection division, explained that the firms would need to be able to justify why they insist employees retire at a certain age.

In his view, this process will not be easy for enterprises and it would be far simpler to deal with any issues in the same way as they would do for any other staff members.

"The vast majority of employers would be best advised to do away with compulsory retirement ages altogether," Mr Simpkins stated.

Allianz highlighted how the scrapping of the default retirement age will be effective as of October 1st 2011.

Last week, NFU Mutual pointed out that the reform will be particularly important to older workers who are still in good health and do not have much money put aside for their future.

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