The employers' group IBEC has warned the Government against imposing a "one-size-fits-all" rule on retirement age.
It follows an inter-departmental report recommending that workers get the option to work past the current retirement age of 65.
The Government has confirmed that the Workplace Relations Commission is to draw up a code of practice on the issue of working longer.
IBEC's Head of Social Policy Tony Donohoe described the recommendations as "sensible".
However, he added that ultimately retirement is down to a contract between employee and employer.
Mr Donohoe said: "It's obviously affected by the type of work that the person is doing and the nature of the business. It will suit some workers, but not all workers.
"The retirement age is essentially a contractual retirement agreement between the employers and the employees themselves.
"That's the only way we can guarantee the viability and futures of the businesses themselves."