Whats the difference between the retirement age and the pension age?
The state pension age is the age at which someone can draw his or her state pension, (as long as they have made the required National Insurance contributions). Employees don’t have to retire at this age, and they can defer drawing their state pension. The default retirement age is set in the age regulations as 65 – employers can force someone to retire at or above this age. Munro said a Conservative government would be expected to deal with the rules on the DRA before changing the state pension age. “With this in mind, employers should already be reviewing their retirement policies with a view to ending the use of mandatory retirement at 65 unless it can be justified.” The government announced plans to remove the DRA for all civil servants last month, and said it intends to bring forward a review of the legislation which allows employers to set a minimum retirement age of 65. Meanwhile, an employers’ body has said Conservative plans to increase the pension age for men to 66 earlier tha
