Retirement
People are generally working longer but retirement planning is still something that employers and employees need to consider. Most organisations will have a normal age at which employees are required to retire. This is usually 65.
If there is no formal retirement age then employers can dismiss an employee by reason of retirement if they are 65 or over.
If the normal retirement age is set below 65 an employer can still insist that an employee retires once the retirement age is reached, but only if the retirement age is justified objectively and the specific notice has been given.
Whatever the retirement age, the employer must give written notice that they want the employee to retire within a set time period in advance of the intended retirement date.
Employees who are approaching the normal retirement age if there is one (or 65 if there isn’t) must be told by the employer about their right to ask to work beyond the normal retirement age. The employee must then make a request to stay on within a set time frame before the planned retirement date.
If a request is made the employer must follow a set procedure when considering the request including a right of appeal if it is refused.
If you are concerned about finances once retired, our Trust and Investment team are experienced in dealing with pension plans.
To speak to someone who can advise about retirement or any other employment related issue call, email or request a call back from one of our specialist lawyers.