Retirement pitfalls for small firms

How many times have advisers involved in the business market sat in front of the director of a small owner-run company or partnership and discussed pensions? Quite frequently, I would imagine. How often have they asked: what happens when you go? Are you just going to lock up on the Friday after your 65th birthday and walk away? In the vast majority of cases, I get a very startled look. Few have made concrete plans and most have only a vague idea of what will happen. There are usually four scenarios: • They will sell the business. • The next generation will take over as they h...