Attracting older workers while helping others retire

End of mandatory retirement conundrum for HR
By Jeff Stinchcombe
|Canadian HR Reporter|Last Updated: 06/14/2013

Employers are becoming concerned with a pending shortage of seasoned talent due to the impending retirement of baby boomers. The government has provided one possible solution by eliminating mandatory retirement at 65, but this has created new, interesting challenges in employee benefits.

Many employees are choosing to work past age 65, either because they need to or are reluctant to retire.

If an employee works past age 65, what benefits does she need and what benefits are available? It is standard that disability coverage ceases at age 65 and life coverage reduces by 50 per cent until age 70, at which point it terminates. Many provinces cover most drugs for residents aged 65 or over.