Many employers will be focussed not on retirements, but on retaining older workers until succession issues can be addressed.
On December 12, 2006, legislation came into effect in Ontario that ended the longstanding practice of requiring employees to retire upon reaching age 65. (All other provinces and territories are going through, or have gone through the same process). Bill 211, the Ending Mandatory Retirement Statute Law Amendment Act, 2005, was passed by the Legislature a year ago, but its implementation was delayed for a year to allow the workplace parties to adjust to the changes. Although employers, unions and employees have had a year to consider this important legislative change, we are still only beginning to understand how the end of mandatory retirement will affect workplaces. Each workplace has its own dynamics, and those dynamics will significantly influence the nature and the degree of the changes they will experience.
Some of these dynamics may include the following:
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