Retirement means many different things to different people. For some, it cannot come soon enough. Others wish to put it off for as long as possible. Increasingly, executives towards the end of their careers are looking for some flexibility – to be able to continue to work and earn money, but perhaps not at the same level of commitment of time and effort as before.
Similarly, employers take a wide variety of approaches towards retirement. Although the mandatory retirement age has been abolished, some employers still seek to impose retirement. This can be through a formal employer-justified retirement age or more commonly through an informal policy, either of which can potentially be challenged legally.
Other employers operate a more flexible approach. However, this may still involve the employer putting pressure on individual older executives to leave if it is felt that their performance is reducing. Whether that pressure is fair or is unlawful discrimination on grounds of age is open to question.
Examples of our assistance to executives in this area include:
- Advising in relation to retirement strategies and related discussions with employers
- Negotiating retirement packages and plans as far as possible to suit the preferences of the executive, including as regards timing and financial terms
- Advising in relation to potential age discrimination claims where appropriate
- Resolving age discrimination claims through negotiation and/or mediation
- Acting for executives bringing retirement-related age discrimination claims where appropriate