The age of an individual when he or she retires. At present this is normally 65 for a man and 60 for a woman in the UK. It is at these ages that state pensions begin. However, other policies can nominate other pre-agreed dates, which HM Revenue will accept in certain cases. The inequality between a man's normal retirement age and a woman's retirement age in the UK will be ended in 2010, when both sexes will qualify for state pensions at 65.
Subjects: Financial Institutions and Services.