My compensation and benefits career has been spent working in professional services organisations in the financial and technology sectors. In these organisations, proposed increases to the state pension age will not have an impact on the retirement plans of many employees.
Our employees are fortunate enough to be relatively high earners and most take part in the organisation’s pension scheme. This means that, as they approach their 60s, most should have personal savings, investments and assets, and should have built up a fairly substantial pension fund rather than be reliant on a state pension.
I say ‘should’ because this is all rather hypothetical. Technology is a young sector, which employed enthusiastic young adults in the 1980s and 1990s. Even these early tech-sector employees are typically only in their 40s or 50s now. In 10 years of working in the technology sector, I don’t think I’ve seen a UK employee retire.
The assets that our employees will have later in life means they should have a fair amount of flexibility around their retirement plans, and I would expect many to go and demonstrate their competence in a different way later in their careers; for example, as independent consultants or contractors. They may work part time or on short-term projects, rather than work full time every day up to a retirement date.
Once they get to a point where they feel they have accumulated sufficient retirement income, the main driver of their decision to eventually stop working and ‘retire’ is likely to be based on opportunities, what they feel like doing with their time, health, or other priorities. It won’t be the date at which their retirement income is ‘topped up’ with the state pension, so small changes to the state pension age will not alter some organisations’ pension strategies.
Ian Wright is director of compensation and benefits at The Attachmate Group
70 atv parts sale
jetmoto 200cc atv lever set
cheap 250cc scooter throttle cable
jonway 250cc scooter grips
jonway 90cc atv brake assembly
cheap go kart timing chain
jonway 300cc scooter handlebar covers
jonway 250cc atv mufflers
peace 110cc atv oil mirror
znen 50cc scooter gas tank caps
110 cc atv foot brake switch sale
125 scooter cylinder head sale
china 110 cc dirt bike clutch cable
cheap 125 cc scooter brake shoes
china 250 cc dirt bike bearings
china 70cc atv camshaft
43 cc 47 cc 49 cc dirt bike exhaust pipe gasket sale
cheap scooter brake drums
cheap 43cc 47cc 49cc scooter body and frame
china go cart throttles
Arictles like this just make me want to visit your website even more.