The head of people and proposition at Marks & Spencer urged the
Government to change Inland Revenue rules to make it easier for companies to
employ older workers.
Denise Keating told delegates she believes current IR rules should be
scrapped which prevent employees from drawing part of their company pension
while continuing to work for that organisation,
Keating said despite the obstacles M&S changed its retirement rules to
allow people to work beyond 65 because it was losing too many good people.
However, staff who continue to work over the age of 65 can’t be in the
company scheme or be covered by death in service benefit because of the IR
rules.
"Our managers were saying replacing these skilled staff would be very
difficult. There’s no need to get rid of someone just because they’ve reached a
certain age," she said.
"The key focus for us is retention because then you keep essential
knowledge and corporate memory,"
Keating also believes having a high proportion of older workers improves the
company’s image with customers and service.
