Policy 6.1 Retirement Policy*

6.1 Retirement policy

LUU does not operate a compulsory retirement age for its employees. LUU is committed to equal opportunities for all its employees and as such recognises the contributions of a diverse workforce, including the skills and experience of older employees. It believes that employees should, wherever possible, be permitted to continue working for as long as they wish to do so. LUU operates a flexible retirement policy and employees may voluntarily retire at a time of their choosing.

LUU engages in regular discussions with all their employees where the topic of retirement can be brought up, including One to One meetings and 6/12 Months Performance Review Meetings. Employees are also encouraged to bring up the subject of retirement with their manager at any time they wish.

The procedure to be followed if and when an employee chooses to retire is as follows:

If you have reached an age where you have decided that you wish to retire, you should inform your line manager as far in advance as possible. This helps to allow for succession planning and must be in accordance with your notice period as set out in your contract of employment.

Your manager will arrange a meeting with you to discuss arrangements for retirement, including your intended retirement date, succession and handover plans, pension details and if applicable a phased retirement.

You will be required to confirm your intended retirement date in writing. LUU will then write to you to acknowledge your notice to retire. Once confirmation in writing has been received LUU may refuse to accept any withdrawal of notice.

Any discussion about possible retirement will not result in the manager making any assumptions about your commitment to LUU. These discussions are an informal opportunity for both you and the organisation to plan jointly for the future.