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Employers push for flexible retirement

IFAs could benefit from an increased demand for advice following calls for the Government to promote flexible retirement.

The Employers Forum on Age, which boasts the FSA&#39s Howard Davies as its chairman, is putting pressure on the Government to remove the barriers to flexible retirement or risk increasing the skills shortage and retirement poverty gap.

It wants the Government to encourage older people to draw part of their pension alongside a salary for part-time work instead of taking full retirement.

The EFA is a network of employers which lobbies for greater understanding of the value of an experienced workforce, regardless of age. It says its members, which include the Bank of England and Nationwide Building Society, agree overwhelmingly that retirement is an out-of-date concept.

The EFA argues that flexible retirement will allow employers to control skill levels without the sudden loss of experience that retirement brings.

It is publishing a report urging employers to investigate the demand for flexible retirement among their employees.

If the forum&#39s demands are acted upon by the Government, IFAs could benefit from an increased need for advice from those near retirement.

FSA and EFA chairman Howard Davies says: “The Government is in a powerful position to ensure employers are aware of the flexible retirement options already available and lead by example with the public sector.

“If the Government is to encourage people to remain economically active, it must act on its commitment to change the Inland Revenue and Department of Social Security rules.”

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