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LATEST NEWS & EVENTS Retirement rules a "waste of resources"  Employment laws concerning the age at which people can be made to retire in the UK are inefficient, it has been suggested. According to investment expert and economist Dr Ros Altmann, such rules have the double effect of reducing the number of people who are paying tax and also lessening the amount of money certain consumers spend. Under current regulations, employers can force staff members to give up their roles at the age of 65. Dr Altmann claimed the default retirement age is a "huge waste of resources". She added: "Visionary politicians need to lead the way by explaining the benefits of part-time work in later life, encouraging people to stay at work longer and helping themselves too." Her comments followed the release of new figures from Age UK, which suggested that forcing older workers to retire cost the UK an estimated £3.5 billion in lost economic output last year. Jonathan Gray, employment partner at Lamport Bassitt, said: "Even if the default retirement age is retained it is unlikely to remain at 65 indefinitely. "With the state retirement age set to rise, it would be a difficult case for the government to make for it to stay at 65. "It should also be noted that an employee only has the right to request to work beyond 65 not a right to actually work beyond 65." 
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