Norton Rose sets retirement at 65
Legal Week reports
July 05, 2006 at 08:03 PM
1 minute read
Norton Rose has increased its London partner compulsory retirement age from 60 to 65 in an effort to align its retirement policy across its international network.
The decision, which was made last year, comes as firms face up to incoming age discrimination legislation, in force this October, which will see firms forced to justify any retirement age imposed on their partners.
The move will be viewed by rivals as an attempt by the firm to avoid difficulties arising from the legislation.
The issue is particularly relevant to top City firms, which have generally been managing out a number of older partners over recent years. According to Legal Week research in August last year, only one in 20 partners at London's top 10 firms are over 55.
However, Addleshaw Goddard partnership partner Richard Linsell warned that simply raising the retirement age does not provide a fail-safe protection against the new legislation.
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