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Eagle says scrap retirement age

Pensions minister Angela Eagle believes that the default retirement age should be scrapped, even though the Labour party has yet to reach this conclusion.

Speaking at the Public Sector Pensions conference in London on Tuesday, she said: “I don’t believe a cliff-edge approach to retirement is very sensible any more. It is clear that if people are fit and well and can work longer and if they want to be able to do that, I do not see why they should not.”

Eagle stressed that the Government has not made a decision on whether to scrap the policy as yet but is “looking very closely at the evidence”.

She said: “The Labour party believes that choice is important in retirement. Perhaps that means winding down, having more choice and working a bit longer if that is what you want.”

Informed Choice managing director Martin Bamford says: “I think that there are pros and cons to scrapping the default age. While, as adults, we should have the freedom and flexibility to choose when we retire, people like a point of reference that gives them a goal during their career.”



Robert Graves

Rowanmoor head of technical services and Association of Member Directed Pension Schemes chairman Robert Graves describes himself as ’a small-company guy’ but he has big ambitions and while many in the industry cast doubt on the future of smaller Sipp players, he is confident the RDR will see them come into their own. Interview by Lee Jones


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