Forced or mandatory retirement is not a laughing matter, because you are not expecting it and therefore you are not prepared. For information on some of the reasons an employer may force some of its employees to retire, please click here.
Dealing with forced retirement is difficult. However, if you are age-eligible for retirement, you are in a better position than a younger person who is given forced retirement.
Either way, you will need to make some fast decisions and plans, in addition to dealing with the shock of losing your job. For help with this, please click here.
One of your most important decisions will be how to put your severance package to best advantage. You will need to make your budget and investment decisions as quickly as possible to make your severance monies last as long as possible. To get information on some of your choices, please click here.
Are you concerned that your "forced retirement" may in fact be a case of age discrimination? Sometimes age discrimination is blatant, but often times you're unaware that it's happening until suddenly you are "let go". Beware if: you are asked to train the person under you, if your duties and responsiblities change, if the company is hiring only recent graduates or hires only younger looking employees. If you have noticed this or if you would like more information on how to detect age discrimination, please click here .
If you suspect that your forced retirement is unfair in any way, you will probably want to discuss your concerns with a lawyer. There are lawyers who specialize in different areas of employment law and after explaining your situation to the lawyer, he will be able to advise if he thinks you have a case. For information on finding and retaining a lawyer, please click here.
