About 13% of Nationwide Building Society’s staff are aged over 50. It introduced flexible retirement to age 75 in 2005, ensuring benefits that were applicable before the normal retirement age applied if an employee stayed on after 65.
Nationwide extended the benefits that were available to age 75 and self-insured benefits beyond the age of 75, if staff wanted to continue working.
In light of the removal of the default retirement age, the Nationwide Group has decided not to operate a retirement age, but is reviewing what that will mean to various divisions.
Antonia Humphreys, senior employee relations consultant at Nationwide, says: “It is very important that we embrace diversity within our employee base, and when we moved to flexible retirement in 2005, one of the drivers was that our customers really wanted to do business with a workforce that reflected themselves.”
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