Clifford Chance Overhauls Pension Plan to Comply With New Age Discrimination Laws
Clifford Chance has voted to update its early retirement package for partners, with the Magic Circle firm bringing the system in line with age discrimination laws. Under the previous system, someone who made partner before 2005 could opt to take early retirement between the ages of 50 and 55 and receive five years of pension payments equaling up to 25 percent of plateau profits. Clifford Chance has now discarded the age reference and will instead base the system on years of service.
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