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| IOD calls for retirement age reforms |
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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Wednesday, 24 February 2010 00:00 |
 People in 50-plus jobs should be able to carry on working until they are 68 years old, a business group has said.According to the Institute of Directors (IOD), the policy regarding the default retirement age does need to be reformed. Rodger Broad, regional director in the Hampshire area, said the pension age was set at 65 for men back in 1948, when life expectancy was 66 years. However, he told the Daily Echo that today, people are typically living for about 20 or 30 years into retirement. This, he stated, demonstrates the need to revise the existing system. "No employer wants to lose experienced, skilled workers simply because they have reached a certain age," Mr Broad commented. The IOD has already suggested that the default retirement age be raised to 68 rather than scrapped altogether. This, it said, could be a good option because it would allow people to work for longer and give employers the flexibility they need to manage their workforces. 
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