What are the implications of scrapping a normal retirement age?

With the age discrimination legislation looming, I’m looking at what the implications of scrapping our normal retirement age of 65 will be.

Just scrapping the fixed age will not be a problem, but we have a numnber of non-contributory benefits and also a defined benefit pension scheme based on NRA’s of 65. EG
– life insurance
– private health insurance
– long term disability insurance (PHI)


Has anyone already addressed these areas and would be willing to share what they did? The issues seem twofold:

– escalating costs (especially healthcare)
– defining and communicating the benefit (eg PHI cover pays up to NRA, if there’s no NRA, what cover do we provide? Do we just say that cover ceases at a specified age, or will that still be discriminatory!)

Have I missed any other implications?

Tony Currie

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