SMEs say they should decide retirement age

A new research study completed by the FSB revealed that over 60% of businesses do not think there should be a default retirement age set by the Government.

Yet, the FSB is still encouraging lawmakers to include a provision in law that will help protect the interests of employers that are forced to retire staff because they suffer from health issues that affect their performance abilities.

The survey showed that 60% of respondents have staff that is over the age of fifty and about a quarter has staff that is aged 65 years or older.  Additionally, 80% of the firms that responded to the survey stated that they do not require their staff to retire at a certain age.

With 76% that feel retirement should be a concern between an employer and employee.  Another 66% stated that they do not believe it is the Government’s role to declare a default retirement age.

Chairman of the Wessex Region of the Federation of the Small Businesses, Ken Moon, stated that small businesses are aware of the skills and contribution that older workers bring to their businesses and owners are not interested in creating a policy that makes all members retire at a uniform age.

Moon continued to say that businesses should be protected to make their own decisions regarding employees who have poor health and should be protected from employees that threaten to sue for being let go.