The Nationwide Building Society has extended its employment terms and conditions enabling employees who wish to work until the age of 75 to do so.
Nationwide was one of the first organisations to introduce flexible retirement back in 2001 to allow older employees to work until 70. The Society has now extended this policy allowing those who want to, to continue working up until 75. Those choosing to carry on working will be entitled to their existing benefits.
Jeremy del Strother, divisional director personnel and development, said: « This new approach to flexible retirement benefits both our employees and the organisation. Research has shown that there is a strong correlation between employee satisfaction, customer satisfaction and the success of any business. We have found that older employees help increase the levels of satisfaction amongst our customers. We also know that some employees wish to continue working beyond the normal retirement age, so have enhanced our policies to support those employees, giving them more choice over when they want to retire. »
Tim Poil, General Secretary of Nationwide Group Staff Union, commented: « We have been working with Nationwide for some time on ways to enhance opportunities for older workers. I am delighted that this has resulted in these innovative and pioneering developments. »
TUC General Secretary Brendan Barber said: « It’s good to see employers and unions working together to combat ageist attitudes at work. Nationwide has been forward thinking enough to realise the benefits that come from employing older workers. I hope other businesses start to follow Nationwide’s lead and begin to see the forthcoming age equality regulations as an opportunity not a threat. »
Nationwide case study
