Standard Life scraps retirement age

Financial services company Standard Life is scrapping the retirement age for its 8,000 workers ahead of the age discrimination regulations that come into effect next month.

Standard Life said that from October its employees will no longer have to retire at a specific age and will be able to chose when they want to stop work, according to newspaper reports.

The normal retirement age for the Edinburgh-based firm is 60, but staff will receive letters setting out the new arrangement.

Josie Westley, of Standard Life’s staff association, said: “Regardless of age, staff are entitled to employment protection rights. We therefore believe the changes will be beneficial to our people.”

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