Today the Government announces that it will be scrapping the default retirement age of 65 from October 2011. This effectively means it ends from April 2011 due to the required 6 month notification process. This is a great step towards ensuring that employers manage the performance of all their workforce effectively and will provide the business benefits of helping them to retain relevant experience, skills and the talent needed in their organisations. It also means that the employee has a real choice in deciding what is best for them based on their individual circumstances.
In reality, most people will continue to think about retirement in terms of when their pension becomes available, if they are lucky enough to have one,so there won't be a lot of change.
The key thing is that this announcement will start to help us rethink how we plan for our older lives and help us to see that as we get older we can still have a very valid contribution to make to the younger generations,society and the economy.