News
Increase in pension age raises challenges, says EFA
24 May 2006
The Government's White Paper on pensions is expected to present both challenges and opportunities to employers. Increasing the State Pension age to 68 and equalizing women's access to a full pension raises issues around:
- Extending working life
- The future of retirement
- How employers manage an older workforce
Rachel Krys of the EFA comments,
"As the Government makes these changes we must consider the impact they will have on employers and employees. Given our ageing population, raising the pension age should come as no surprise. It does mean that flexible working practices, career breaks, part time working and job sharing can no longer be the preserve of the most enlightened employer - they have to become a reality for everyone in order to make working for longer palatable."
"The proposals give women a fairer deal on pensions and this can only be a good thing for employers. For too long women's choices have been limited by poor pension provision, increasing their choice will mean more motivated and committed employees who are working for the right reasons."
The EFA is working with leading UK employers on this agenda and is available to comment on:
- Redefining retirement (flexible working and retirement policies)
- Workforce demographics
- Challenging age discrimination in employment (both law and good practice)
- Health & well-being at work
ENDS