Age UK: Default retirement age abolition is win-win

Charity Age UK’s director Michelle Mitchell comments on the government’s decision to scrap the default retirement age:

“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. Public finances will receive a boost from more people paying taxes for longer.”

A statement on the charity’s website adds:

“We believe that ending forced retirement has many benefits – giving employment security to hundreds of thousands of people, enabling people to save for longer for their retirement and allowing people the dignity of choosing when to retire. Enabling people to work and contribute their skills for longer not only keeps them active – it also makes economic sense as our population ages.”