United States: Survey Shows Many Employees in Small Businesses Staying on Past 65

According to a survey of small businesses, almost a fifth report that their older workers are staying on past the usual retirement age of 65. More than a third reported employees are still working because they can't afford to retire, while twice that many said employees were staying past 65 because they liked working or enjoyed the extra income.

The survey--"Older and Wiser: As the Work Force Ages, Small Businesses Change, Too"--was conducted by the National Association of Professional Employer Organizations. Among other things, the survey found that almost 16% of the small businesses said 5% or more of their employees are between 60 and 64, a jump from five years ago, when it was 9%.

Source: National Association of Professional Employer Organizations News Release (March 15, 2007)