What happens at retirement?

Azriel

Registered User
Messages
45
When an individual comes to retirement (say 65) are they forced to retire?

I am thinking specifically of a Defined Contribution member / PRSA contributor who is facing the prospect of a very low pension. Is there anything to protect them from compulsory retirement? Anything in employment legislation / age discrimination legislation?
 
As far as I know some contracts of employment may insist on retirement from that position at a particular age. At certain ages (e.g. 60, 65 etc.) pension benefits can be drawn down (e.g. up to 25% tax free lump sum, with the remaining amount used to buy an annuity or rolled into an ARF/AMRF etc.). However I don't think that one is necessarily forced to take pension benefits at that stage. Similarly there is nothing stopping somebody of any age from working if they can find a job.
 
I assume that the relevant legislation would be the [broken link removed]..?