The Government has announced more financial help for older workers.

In his Budget speech today the chancellor, Alistair Darling, said employees over 60 would have to work fewer hours in order to receive working tax credits, making the option of flexible retirement more appealing to them.

He also said the Government was reviewing the default retirement age, by which employers can force employees to retire at age 65, and made positive noises about scrapping it altogether.

The chancellor went on to promise a more financially secure retirement for Britain's ageing population, explaining from next year the minimum basic state pension will be £132.60 per week and that no one over the age of 75 will have to pay any tax on the first £10,000 of their annual income.