Changes in retirement legislation look set to shake up workforce profiles, predicts Jelf

Following the abolition of the Default Retirement Age (DRA), and the chancellor, George Osborne’s, decision to link the state pension age (SPA) with longevity expectations, UK employers expect a significant change in their workforce profile according to a report from Jelf Employee Benefits.

The research found just under two thirds (63%) of employers expect the age profile of their workforce to change over time, with just 26% not expecting any direct impact.

These findings reflect the fact that employers can no longer force an employee to retire purely on the grounds of age alone, and are now instead dependent on the employee making an active decision to retire.

This decision is often triggered by there being sufficient pension savings in place to provide a comfortable income in retirement…..

http://www.hrmagazine.co.uk/hro/news/1074287/changes-retirement-legislation-look-set-shake-workforce-profiles-reports-jelf

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