Bosses of firms ‘work­ing af­ter re­tire­ment age’

Yorkshire Post - - NEWS -

MORE THAN 140,000 direc­tors of small com­pa­nies are run­ning their busi­ness past the re­tire­ment age of 66, fi­nan­cial ex­perts have claimed.

Re­search by ac­coun­tants at UHY Hacker Young has re­vealed that one in five small com­pany direc­tors are aged 66 or over, show­ing how work pat­terns have shifted over the years.

In­di­vid­u­als are also be­com­ing less likely to stay in one job for long pe­ri­ods of time, with the av­er­age worker chang­ing their job ev­ery five years, ac­cord­ing to the re­port pub­lished to­day.

James Price, of UHY Hacker Young, said the out­come of Brexit could make it more dif­fi­cult for direc­tors to sell a small busi­ness quickly.

The study comes in the wake of con­cerns which have al­ready been ex­pressed over the na­tion’s age­ing pop­u­la­tion.

Last month, coun­cil­lors in North York­shire called for key fund­ing for the county’s rapidly age­ing pop­u­la­tion and un­der­pres­sure health ser­vices.

Con­cerns have been mount­ing over de­mands for so­cial care pro­vi­sion in the county, where there has been a dra­matic shift in the num­ber of older res­i­dents.

The pro­por­tion of North York­shire’s pop­u­la­tion aged 65 and over in 2011 was 20.7 per cent but that fig­ure had risen to 23.3 per cent in 2015.

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