Retirement Age refers to the time in life when one can retire from their working life. This varies from country to country.
The retirement age in South Africa is 65. This applies to all who have worked their entire lives and allows for social grants to kick in should those who have worked not created a pension fund for themselves.
Baby boomers are retiring in their scores. The only issue is that many baby boomers are not ready to retire, mostly because of financial reasons.
Boomers want to keep active in their areas of expertise, skill, and knowledge.
Way before the “Big Birthday” looms, employers and employees need to have their ducks in a row in order to prevent any uncertainty, trouble, and dispute.
As comedian George Burns said: “Retirement at 65 is ridiculous! When I was 65, I still had pimples!”.
First things first. You cannot be forced to retire unless this is specified in your employment contract. If you do not have an employment contract that specifically speaks about the retirement age, you cannot be discriminated against because of your age.
You should be allowed to work for as long you are physically and mentally able. But it really is in your best interests and the best interests of the company to agree on a retirement age.