Mandatory Retirement

This tag is associated with 9 posts

Older Workers / 11 Ways companies get rid of them

Companies looking to ditch older employees can be creative in the ways they try to avoid age discrimination claims. Here are 11 of their sneakiest ploys Continue reading

American Airlines / To hire 1,500 pilots

American Airlines says it will hire 1,500 pilots over the next five years. Continue reading

US / Why Is Age 65 Still a Retirement Peak?

‘In order to address an immediate and long-term funding problem, the Social Security Amendments of 1983 gradually increased the Full Retirement Age (FRA), changed the actuarial adjustment for individuals claiming benefits between the early and full retirement ages, and increased the delayed retirement credit. Together, these changes increase the financial gain to individuals who delay … Continue reading

Singapore / Retirement and Re-employment Act – Employers are now required to offer re-employment

Since 1 January 2012, the Retirement Age Act (RAA) has been replaced by the Retirement and Re-employment Act (RRA). Like the RAA, the RRA also covers all employees who are Singapore Citizens and Permanent Residents. Under the RRA, the statutory minimum retirement age is still 62, but employers are now required to offer re-employment to … Continue reading

UK / More than 1 in 3 will work past 65 and 35% will work past retirement age

Thirty-five per cent believe they will work past retirement age, but this could have a negative impact on employers. Workers are planning to take advantage of the opportunities offered by the abolition of the default retirement age, according to new research by insurer Canada Life Group. Over a third of employees think they will work … Continue reading

UK | It is legal for companies to force retirement if in ‘public interest’

Companies could, for example, say they needed to dismiss older workers at 65 to make way for more entry-level jobs and younger staff climbing the career ladder, the long-awaited judgment signalled. It is the first time the “public interest” defence has been applied to age discrimination law, legal experts said, adding that the case gave … Continue reading

Expected time in retirement at age 65 is more than 40 percent longer than in 1940

Raising the ages at which people can collect Medicare and Social Security would reduce federal spending and increase federal revenues by inducing some people to work longer. However, raising the eligibility ages for those programs also would reduce people’s lifetime Social Security benefits and cause many of the people who would otherwise have enrolled in … Continue reading

Transitioning into Retirement: The MetLife Study of Baby Boomers at 65

Despite the popular belief that Baby Boomers will continue to work well past the traditional retirement age of 65, those born in 1946 are retiring in droves, according to Transitioning into Retirement: The MetLife Study of Baby Boomers at 65. This study is a follow–up to the 2008 MetLife Mature Market Institute study, Boomer Bookends: … Continue reading

Raising the Normal Retirement Age for Social Security Would Lead to Increase in Inequality

Social Security remains the most important source of income for most Americans in their retirement. Nonetheless, there are many proposals for cutting benefits that get serious consideration, including increasing the normal retirement age. A new report from the Center for Economic and Policy Research examines the impact of raising the Social Security retirement age and … Continue reading

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