Elderly workforce is growing

Hannah Eade (14) and Marianne Osman (14).

Picture: Sarah Standing

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THERE are more elderly company directors in the UK than ever before, according to a Portsmouth-based chartered accountancy firm.

Wilkins Kennedy branch partner Geoff Collis said there were now more than half-a-million company directors aged over 65.

Mr Collis said the figure was part of a general trend towards working later.

He said 37 per cent of self-employed workers were over 65.

‘The idea of retiring at 65 is no longer the norm,’ he said.

‘The impact of the credit crunch has meant that most people will now have to work past the traditional age of retirement.’

Mr Collis said that although there was no official retirement age, the state pension age has now risen to 68 for anyone currently aged in their mid-40s, and 69 for those aged mid-30s.

He said most people would now have to work past 65.

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