UK - The UK government is looking into scrapping the compulsory retirement age, Chancellor of the Exchequer Alistair Darling said.
In what he termed as a "Budget for recovery", Darling said he was looking to improve rights for older workers and was looking into scrapping the compulsory retirement age.
Hargreaves Lansdown head of pensions research Tom McPhail said the government was talking about scrapping compulsory retirement age, without actually confirming the outcome of the ongoing review on the subject.
The government announced it would bring forward a review on investigating if a default retirement age was still relevant in today's society after the High Court ruled it was legal for employers to force workers to retire at the age of 65.
The ruling was the result of a test case - brought by Age Concern and Help the Aged - on the legality of the default retirement age in July.
Mr Justice Blake decided that the Default Retirement Age introduced by the government in 2006 did comply with an EC Directive against age discrimination.
He indicated that an exempt retirement age at 65 was lawful back in 2006 when it was introduced, due to the prevailing circumstances and evidence available at the time.
However, he did say that there was a "compelling case" for a change in the law - and noted the law would not be likely to be lawful if it were introduced now because of the current economic conditions.
Barnett Waddingham senior partner Adrian Waddingham added: "Such a move has been expected, and if we are asking employees to share the dividend of improving longevity between work and retirement, a good and timely move.
"There is also a good chance that this will provide a new impetus for employers to provide good pension schemes, in as much as they will now have a good business case to ensure that their employees can afford to retire at a reasonable age."
Thousands of savers taking tax-free lump sums ahead of retirement are at risk of a pensions shortfall in later life due to neglecting their remaining pot, Zurich has warned.
Professional Pensions is looking to update its list of pensions master trusts in the UK ahead of authorisation. Can you help?
Headline dividend payments have reached record levels in 2018. James Phillips asks if trustees should be concerned over the current high level of yields.