tandard Bank Group has announced that starting January 1, 2026, the retirement age for its executives will increase from 60 to 63 years.
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Standard Bank Group has announced that starting January 1, 2026, the retirement age for its executives will increase from 60 to 63 years.
According to the bank, the move is aimed at keeping experienced leaders and staying competitive in the financial industry.
"The revised executive retirement age aligns Standard Bank with prevailing practices across the financial services industry, ensuring that the bank remains competitive in the global and local talent market," the bank stated.
"It reflects the evolving nature of executive leadership and the increasing value of experience, continuity, and institutional knowledge in driving long-term growth and innovation. This change also ensures that Standard Bank is not an outlier in what is a highly competitive market for key talent."
However, the bank noted that all other employees’ normal retirement age remains unchanged. The retirement age for non-executive staff is already 63.
Standard Bank also added that it "monitors trends, both locally and internationally, that impact the world of work".
"One of these trends is the lengthening of productive working life, given that people are staying healthy, energetic and engaged for much longer. Standard Bank has diverse talent, with a strong leadership succession pipeline. This gives us a powerful competitive advantage in meeting our financial targets and achieving our growth ambitions."
Nedbank and Absa are other major banks that have also set their executive retirement age at 63.