Nationwide to Increase Optional Retirement Age
The Nationwide building society has increased the age workers can continue to before retirement
2d June 2005
Nationwide, the country's largest building society, is allow staff to work until the age of 75 if they want to. The society introduced flexible retirement ages in 2001, allowing staff to continue working until 70, but now any staff member who wishes to carry on working can remain in their current position for another 5 years.
The change comes ahead of new European regulation in autumn 2006 which will allow workers to request a later retirement age, although the rules will allow employers to refuse the request.
The incoming rules are apparently not what prompted Nationwide to make the change, as a spokesman said that having older employees benefitted the company, as it increases customer satisfaction according to surveys.
Read More: BBC Report
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