The government reports plans to axe the current retirement age of 65 from October 2011.
This means that employers will no longer be able to issue forced retirement notices to employees when they reach 65. Under the new proposal employees will have more freedom when deciding to finish their working lives.
Activists suggest this new rule could relieve pressure on public finances as more people continue to pay tax, putting millions of pounds back into the economy.
Michelle Mitchell, Age Uk charity director says, “Everybody stands to win from scrapping forced retirement. People over 65 will have full employment rights for the first time. The economy will benefit from older workers’ precious skills and experience and their increased buying power.”