Iam indebted to a Financial Times reader called Hornbill for introducing me to Catch-55.
Hornbill was commenting under a recent piece I wrote about an age discrimination case against Credit Suisse . An employment tribunal had found that the bank had unfairly forced out Tony Shiret, a 55-year-old analyst, so that it could promote a younger colleague who was threatening to leave.
Hornbill wrote: “The new Catch-22, call it Catch-55. We will have to carry on working beyond normal retirement age because there won’t be enough money in our pension pots. Yet we get eased out to make way for younger people.”
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