We have a contractual retirement age of 65 and two different pension schemes. For a number of our current staff, they will not be entitled to a State pension until they are 68.
The issue of the 3 years between payment of occupational and state pensions is one which is being raised regularly. We are reluctant to change our contractual retirement age as this may create other issues for us, not least for those who will qualify for a State pension earlier.
Are other companies removing a contractual retirement age or implementing other measures? Is this situation likely to change?