Conservative pension proposals ‘welcome’

Following this week’s news that, should it get into power at the next general election, the Conservative Party will accelerate the rise in pension age, one group has claimed this would be welcome – and HR staff interested in retention may agree.

At the Conservative party conference, shadow chancellor George Osborne announced plans to push back the age at which people can draw their state pension.

Under the proposals, the retirement age would be extended from 65 to 66 in 2016, ten years earlier than currently planned under Labour.

Emma Soames, editor-at-large at Saga Magazine, said this news was welcome but that it must be matched by coherent plans regarding default retirement.

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She asked: “Will they replace it with another retirement age? Or will they change the rules of retirement to make it performance driven – so that somebody who is very fit will work until they are 70, and someone not so fit will work until they are 66?”

Ms Soames concluded that it was looking more and more as though Britons would be able to work until they wish to stop, rather than until they are asked to leave.