Latest news and events in our sector
By allowing workers to choose when they wish to retire rather than a default age applied across the board, they will be given greater rights, it has been noted.
Laith Khalaf, pensions analyst at investment management firm Hargreaves Lansdown, said that while some may not be able to benefit from staying in employment for longer due to physical constraints, they will have the freedom of choice.
He added that individuals are currently being restricted by being told when they have to leave the labour force - and this could deny much needed finance to some Britons.
"I do think that it imposes hardship on those people who have reached 65 without adequate savings to support themselves," Mr Khalaf observed.
His comments come after the Confederation of British Industries urged the government to clarify its position on how it intends to respond to concerns raised by companies before the default retirement age is scrapped.
Twin Group is affiliated and associated with the following professional organisations: