Compulsory retirement ‘would restrict start-ups’

Many retirees who intend to set up their own firm could be stopped by the compulsory retirement age from the government.

Age Concern, the charity for older people, says modern retirement is very different to the past and if the government maintains a compulsory leaving age many workers’ plans would be disrupted.

Different people choose alternative paths in retirement but many will still want to carry on working in some capacity, a spokeswoman for the organisation states.

People who want to carry on in employment to get funding behind a new venture could be stopped by being forced to leave their work.

‘They might want to work part-time or set up their own business but unless this law is changed they won’t have the right to look for other work,’ she adds.

Research from AEGON, a pensions, protections, investment and advice firm, found 61 per cent of people plan to carry on working in some capacity when they retire.

The findings also showed 12 per cent of these people would like to go into a completely different career when they reach 65 years old.

Adam Wayland

Uriel Bruen

Adam was Editor of SmallBusiness.co.uk from 2006 to 2008 and prior to that was staff writer on sister publication BusinessXL Magazine.