Industry expects retirement age to be scrapped

The view comes in response to a Department for Work and Pensions (DWP) statement earlier this week as part of its five-year strategy, hinting it intends to ‘sweep away’ the retirement age. The DWP said: "In 2011 we will review whether the time is right to sweep away retirement ages altogether.” Adrian Boulding, pensions strategy director at Legal & General says a time will come when individuals will be able to decide when to retire, having independence from both the state and employers to do so. He adds more flexible products are constantly being created and provided in line with this...