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RASING THE RETIREMENT AGE
Page 45
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a, The government is currently consulting on proposals to outlaw age discrimination in the workplace from October 2006 Its consultation document Ewa* & Diversti: Age Matters says that under a new European Employment Directive, setting a retirement age will be unlawful without providing a good reason.
However, employers may be allowed to insist on staff retiringfrom 70 without having to justify their decision.
Consultation will continue until October and details are available from DTI Publications. Contact 08701502 500 or see the website (www.dti.gov.uk/ er/equality/age ).
Raising the retirement age is not just a discrimination issue. A falling birth rate combined with the post-war 'baby boom' generation reaching retirement means that the population is becoming increasingly 'top heavy' with OAPs.
This will not only create a huge funding gap in state pensions but could create widespread skill shortages as well.