§ Vera BairdTo ask the Secretary of State for Work and Pensions (1) if he will make a statement on compulsory retirement of employees before the legal retirement age; [37428]
(2) what regulations exist to permit companies to enforce retirement on male employees at the age of 60 instead of 65. [37426]
§ Mr. McCartneyThere is no legal retirement age and there are no regulations covering retirement age. The employer sets the age of retirement from a company, often based on the state pension age. If the employer has an occupational pension scheme, the retirement age may be linked to the normal age at which the pension becomes payable.
The Department encourages employers, through the Code of Practice on Age Diversity in Employment, and the Age Positive campaign, to adopt flexible approaches to retirement that benefit both them and their employees. Flexible retirement policies can bring business benefits to employers, and give individuals the opportunity to remain in work longer.