With effect from 1 October 2011 the School has operated without a compulsory contractual retirement date – although the School's two pension schemes still retain a Normal Pension Age (NPA).
To assist colleagues, the School has developed Retirement Planning Guidelines. The purpose of the guidelines is to provide staff at all levels with guidance on the options available to them in light of the changes to the law regarding the abolition of the default retirement age.
Staff seeking to retire from the School in full are required to provide their line manager (copy to HR) with written confirmation, giving as much notice as possible but at least their contractual notice, of their intention to resign from the School by reason of retirement. Staff are encouraged to speak to their line manager, as part of their Academic Career Review (CDR), regarding their intention to work beyond the NPA or to retire.
In order to assist staff to prepare for and transition towards full retirement, the School has a number of flexible options that staff may wish to consider and discuss with their line manager. For all staff, it is suggested that, at age 59, they be invited by their line manager to attend a meeting in order that the School can understand their future plans.
Further details of the specific requirements, the flexible options available and the application process is contained in the LSE Retirement Planning Guidelines and the associated Transition to Retirement Request Form.
In order to support staff with their transition into retirement the HR Division offer a one day Later Life Choices Workshop This workshop is suitable for all staff (academic and professional services) who might be considering retirement as a realistic option in the next few years, or who have already decided to retire. Since the default retirement age was removed the decision of if and when to retire is now entirely down to individuals. The concept of retirement has also changed to one of taking advantage of a new active phase of life, which in many cases still includes some work, either paid or voluntary. The purpose of the workshop is to encourage individuals to think seriously about all aspects of retirement or partial retirement in a structured way and to help individuals to make better and more considered choices.
For more information staff should read the guidelines. If staff have any questions they can speak with their HR Partner.