The group risk industry has warned that Government plans to fast-track a review of the UK retirement age could lead to significant problems and expense for providers and clients if not undertaken correctly.
Group Risk Development (GRiD), the trade association for providers and brokers of group risk benefits, said serious consideration needs to be given to the practical implications of completely removing the default retirement age (DRA). Katharine Moxham, spokesperson at GRiD, said: "While no one can put forward a reasoned argument against equality per se, as it stands, continuing benefits indefinitely for those working beyond DRA could be a prohibitively expensive process." The measure was announced yesterday by Harriet Harman, deputy leader of the Labour party, with the view that older...
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