Financial services firm Standard Life is scrapping the retirement age for its 8,000 employees in preparation for the age discrimination regulations that come into effect next month.
From October its staff will be able to choose when they want to stop work, newspaper reports reveal.
Josie Westley, of Standard Life’s staff association, said: “Regardless of age, staff are entitled to employment protection rights. We therefore believe the changes will be beneficial to our people.”
2 Responses
Age Discrimination
We have had age discrimination in New Zealand law for over 10 years now, and it has created few if any problems.
Initially the thinking was that if retirement age could not be contracted there would be some form of management crisis with ‘old’ employees stayinmg in jobs way too long, not allowing the younger ones an opportunity to come on board and learn.
That has not been the case, and most interesting has been the measured change in management attitudes to such issues as moving from full time to part time as employees get a little more mature; and while the reaction to our labour shortage has not bought about a significant change in policies retaining older employees the change has occurred in the minds of the employees, as I mention above.
Luckily the issue has been dealt with sensibly. on the basis that so long as someone can do the job as is required, then let them.
Age Discrimination legislation is here.
“in my prime” believes that there are a number of converging issues to be addressed in a complex and developing scenario. This is a global problem affecting many countries in a similar fashion. People are living longer and are generally physically and mentally healthier than in previous times. To live in reasonable comfort and to be fully occupied and stimulated requires adequate financial resources and meaningful things to do. No country is able to fully finance this extra life expectancy, particularly with fewer younger people supporting the economy, and the economy itself is in need of adequate numbers of skilled workers. In addition to the income it generates, work itself brings with it satisfaction, self-esteem and social interaction. What is required is an inclusive environment and positive attitudes on all fronts. The forthcoming Age Discrimination regulations will provide a legislative framework but will not of themselves bring about cultural change.
What are needed are new attitudes towards work and, in particular towards older workers. Employers must be willing to be flexible in their treatment of employees, particularly in their later years so that there can be a smooth and seamless transition between employment and retirement. This involves planning, communication and sensitivity.
It is in the interests of everyone. Employers will be able to get the best from a loyal, skilled workforce, employees will be able to live to a ripe old age healthy, happy and financially secure, and the state will be able to finance the healthcare and pension framework necessary.
For more see http://www.inmyprime.co.uk/