From today, the Default Retirement Age is being phased out, meaning it can no longer be used to force workers to retire at 65 – and it is set to be abolished altogether in October 2011. Sure, there have been cries of outrage. But new research from Creditsafe, the business intelligence experts, shows the new policy won’t cause ructions in the boardroom. There are already 360,000 directors in the UK over the age of 65, equating to three per cent of the pensioner population. More than 100,000 companies (four per cent) currently employ directors over the standard retirement age. And there’s also proof that pensionable directors are a desirable asset for new companies. Creditsafe’s research shows that 10,000 directors over 65 have been appointed to newly incorporated businesses in the past six months (3.5 per cent of all new companies). Creditsafe has dubbed this new generation of entrepreneurial pensioners the “silverpreneurs”. And get this: the average age of the top 20 billionaires for 2011 is 67.4 – that’s more than two years above the state retirement ages for the UK (and five above that of France). Picture source
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.