A survey of over 1,000 business managers and executives on their views about the Government’s decision to scrap the Default Retirement Age (DRA) has found mixed reactions to the proposal.  

The survey was conducted by EO (Executives Online), which specialises in interim management and executive recruitment.

Nearly two-thirds of respondents (64 per cent) reported their employer or client has required retirement at 65, although most of the managers and executives surveyed (80 per cent) were not worried about being forced to retire. Mandatory retirement was not always enforced rigidly with many flexible options for employment past 65 being offered.

However, the survey found significant variations by age.

Worry about being made to retire rose with the age of the respondent through their 60s, and then declined at 70+. Younger workers are more worried about the change meaning their career progression may be impacted by the DRA’s removal.

Interim management could be positively impacted by this change, with over one in four (28 per cent) of all the executives surveyed now being more likely to consider it.

Like most other surveys, this one found the primary motivation to continue working after 65 is financial, followed by intellectual challenge.

But there were concerns about ageist employer attitudes remaining, and being acted upon via other means than enforcing the DRA.

Views about working to 65 or beyond varied widely by individual, ranging from enthusiasm, optimism and confidence to pessimism and fear, often overlaid with financial necessity. Many of the most enthusiastic were already practising as interim managers and felt more in control of their future prospects.