Nationwide extends retirement age

By THIS IS MONEY
Updated: 11:26 EST, 5 December 2008

STAFF at Nationwide can now delay full-time retirement until they are 75. The building society already allows its staff to continue working until they are 70 after it became one of the first organisations to introduce flexible retirement in 2001.

People choosing to delay their retirement will be able to continue in their current job, doing anything ranging from working as a customer adviser in a branch to working in the mutual's IT department.

The move comes ahead of Government legislation, which comes into force in the autumn of 2006, enabling employees to request the right to continue working past the age of 65.

Nationwide said around 12% of its workforce was currently aged over 50, and it had found that older employees have helped increase the levels of satisfaction among customers.

Tim Poil, general secretary of Nationwide Group Staff Union, said: 'We have been working with Nationwide for some time on ways to enhance opportunities for older workers. I am delighted that this has resulted in these innovative and pioneering developments.'

TUC general secretary Brendan Barber said: 'It's good to see employers and unions working together to combat ageist attitudes at work. Nationwide has been forward thinking enough to realise the benefits that come from employing older workers.

'I hope other businesses start to follow Nationwide's lead and begin to see forthcoming age equality regulations as an opportunity not a threat.'

However, the TUC has expressed concerns that under the new law, workers will only be able to request the right to continue working, and employers will not have to give a good business reason for refusing them.

Supermarket giant Asda leads the way in employing older people, and is currently the UK's biggest employer of the over 50s. The group launched its policy about four years ago, handing out flyers at venues such as bingo halls encouraging retired people to apply for jobs. It said it employed older people as greeters, customer service staff, and car park and trolley attendants. It currently employs a 91-year-old man as a trolley attendant in Scotland who is believed to be the UK's oldest worker.

Asda said it offered flexible hours to older people and also gave them what it has dubbed Benidorm leave, under which they could take three months unpaid leave at any time and still return to their old job.

Other major companies that employ people aged over 65 include B&Q, Marks & Spencer, Tesco and Sainsbury's.