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| 86% of firms 'unprepared for effects of DRA abolition' |
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 Companies in the City of London and throughout the rest of the UK are not prepared for the effects that the abolition of the default retirement age will have on their organisation, new research has shown.A study conducted by the Chartered Management Institute (CMI) and the Chartered Institute of Personnel and Development (CIPD) showed that few senior management officials felt their firm was well-equipped to deal with the issues brought by an aging workforce. Some 86 per cent of bosses felt the opposite is true, something which may be of concern to the country's business sector ahead of the DRA being phased out from April 2011 and scrapped altogether six months later. However, in positive news for those older workers seeking employment or wanting to remain in their jobs past the age of 65, some 93 per cent of respondents recognised that retaining the knowledge and skill of this age group was important following the recession. Posted by Daniel Frost 
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