Nationwide Building Society is to allow staff to work until the age of 75 if they wish to do so. Back in 2001, the Society pioneered the move to allow older workers to graft until 70.

Jeremy del Strother, Divisional Director Personnel and Development, said: "This new approach to flexible retirement benefits both our employees and the organisation. The Society and Nationwide Group Staff Union are committed to diversity and recognise the valuable contribution older employees make to the business.”

The Trades Union Congress have applauded the move saying they welcomed moves by business to work in conjunction with the unions to ‘combat ageist attitudes at work.’

Around 12% of employees working for Nationwide are aged over 50. The Building Society was recently voted the Best Big Company to Work For by The Sunday Times.

*From autumn 2006, new government legislation will set a national default retirement age of 65 and a right for employees to request working beyond the set retirement age.