Jump to content
House Price Crash Forum
Ned Coates

Company Contract Expires At 65 Years Old

Recommended Posts

My current company contract says I'm only employed until I'm 65 and they won't renew.

So what happens in terms of income now? Do I sign on the rock'n'roll for one year until the pension kicks in?

Will I get job seekers allowance?

I am not understanding what exactly the new retirement age means in real terms

Share this post


Link to post
Share on other sites

There's lots of things at play here.

Firstly, they can no longer get rid of you at 65, so you can continue working till whenever.

The state pension kicks in at 66, so if you weren't working, the dole for a year first.

Your personal/work pension should be unchanged. If final salary, it would kick in at 65. If money purchase, then it's your choice when to buy an annuity (the longer you wait, the more per year you should received).

Edited by 57percent

Share this post


Link to post
Share on other sites

My contract states I have to leave the company at age 50...

Luckily I have no intention of being here by time I'm 50.

Not sure how that helps but its weird and wonderful

Share this post


Link to post
Share on other sites

My contract states I have to leave the company at age 50...

Luckily I have no intention of being here by time I'm 50.

Not sure how that helps but its weird and wonderful

Again, I think you will find that that clause in your contract is now invalid and you cannot be forced to leave on the basis of having reached a set age. Your position could, of course, simply be made redundant when you reach that age, but I suspect they would be dicing with a possible claim for age discrimination if they did that.

Share this post


Link to post
Share on other sites

My contract states I have to leave the company at age 50...

Luckily I have no intention of being here by time I'm 50.

Not sure how that helps but its weird and wonderful

Is it one of the exempted uniformed services?

Share this post


Link to post
Share on other sites

Again, I think you will find that that clause in your contract is now invalid and you cannot be forced to leave on the basis of having reached a set age. Your position could, of course, simply be made redundant when you reach that age, but I suspect they would be dicing with a possible claim for age discrimination if they did that.

The original poster could be on a fixed term contract with a date of expiry set to coincide with his 65th birthday. In this case he would not be being forced to leave. Simply his contract would be finishing. No discrimination or claim.

I suspect that this type of arrangement will become common in the future.

Share this post


Link to post
Share on other sites
Can they still pull the old "Your role is no longer required" gumpf?

Of course they can- if they want you out a way will be found. What will happen though is the employment prospects of the 50+ age group will nosedive as their 'rights' increase.

Share this post


Link to post
Share on other sites

The original poster could be on a fixed term contract with a date of expiry set to coincide with his 65th birthday. In this case he would not be being forced to leave. Simply his contract would be finishing. No discrimination or claim.

I wonder if that is true, though sorry if you have detailed knowledge of the law, and it is.

I think that after one year you can claim unfair dismissal. That might well be possible if the employer replaced you with a newly hired younger employee? http://www.direct.gov.uk/en/Employment/RedundancyAndLeavingYourJob/Dismissal/DG_175834

You also cannot normally have a sequence of fixed term contracts spanning more than four years. Your contract just becomes permanent if you do. I am not sure if this applies to one contract over four years long, however I expect that if it didn't then the new legislation would be effectively meaningless, so there is a good chance that it either does or further legislation would address it? http://www.direct.gov.uk/en/Employment/Understandingyourworkstatus/Fixedtermworkers/DG_175138 (NB: this link might also be relevant to the original poster)

(None of this is advice, necessarily correct, don't in any way rely on it, etc, etc)

Share this post


Link to post
Share on other sites

Is it one of the exempted uniformed services?

wot. like the one TMT advertises?

Share this post


Link to post
Share on other sites

My contract states I have to leave the company at age 50...

Luckily I have no intention of being here by time I'm 50.

Not sure how that helps but its weird and wonderful

We must distinguish between fixed term contracts using age as the calculation point for determining that term AND a contract written before the new legislation kicked in which says you are retiring at 65. The latter case is now unlawful and you need not leave just on account of age even if it says so in the contract. There would have to be another reason to get rid of you. So just keep on working if you want!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.