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| Latest Recruitment News - HR and Recruitment Legislation News |
| Written by DirectNews Feed |
| Thursday, 21 October 2010 00:00 |
 Older employees in roles such as accountancy jobs will be subject to a retirement age of 66 by the year 2020, it was announced yesterday (October 20th).During his comprehensive spending review speech, chancellor George Osborne announced that the outcome of a review into the possibility of increasing the nation's retirement age had concluded that this should happen over the course of the next ten years. "This will involve a gradual increase in the state pension age from 65 to 66, starting in 2018," the Conservative-Liberal Democrat alliance official stated. The minister went on to say that this process will also mark an "acceleration" in the rising female pension age, which will come into force as of April 2011 alongside the beginning of the abolition of the default retirement age, which currently allows employers to force a worker to quit when they reach the age of 65. Mr Osborne added that these changes would result in a figure of £5 billion being saved annually by the end of the next parliament. Posted by Daniel Frost 
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