CBI: Businesses need clarity on retirement rules

British firms will face considerable uncertainty and greater risk of tribunal claims if the government fails to tackle the unintended consequences of scrapping the Default Retirement Age (DRA), a leading business group has cautioned.

According to the Confederation of British Industry (CBI), the government needs to urgently clarify its position on retirement rules and how it will respond to businesses concerns, before it scraps the DRA next year.

Despite announcing that the DRA will be phased out from April, the government has not yet produced any guidance or draft regulations to clarify for employers or staff what the new legislative framework will look like. The removal of the DRA will be one of the most significant changes to employment law in 2011.

Read more: http://www.growingbusiness.co.uk/cbi-businesses-need-clarity-on-retirement-rules.html

Free Resources

Related posts:

Manslaughter rules could ‘signal end’ for small firms New guidelines recommend fining guilty firms a minimum of £500,000, irrespective of size Fears have been raised that new sentencing guidelines for firms found guilty...

Businesses could be hit by green ‘stealth tax’ Small and medium sized firms that have invested in a government scheme to reduce carbon emissions are to be charged a £3.5bn green “stealth tax”,...

Small Businesses To Benefit From Graduate Talent The Government has joined forces with the Federation of Small Businesses (FSB) to offer up to 10,000 graduates a boost to their future employability, through...

Government finance scheme ‘virtually unknown’ to UK businesses A recent survey found that less than one fifth (16%) of the 1,120 small and medium sized enterprises questioned had heard of the government’s Enterprise...

Lending to Small Businesses Down 28 Billion Since 2008 Business lending has fallen by £28 billion since the start of the global economic downturn, a new report has indicated. Bank of England figures reveal...