Firms advised to begin retirement discussions as partners turn 55

Aric Press, a partner in legal consultancy Bernero & Press, highlights the fact that some firms have discovered that 60 per cent of their business is controlled by partners aged 60 or older. A good step to take is to start discussions on this difficult issue early, he suggests, from the age of 55 or 60. He says: 'For many lawyers, their work is their life and they may not want to go gently away.'

Third families

There is the risk, however, that such a conversation could 'spook' some lawyers into jumping ship and leaving early - especially if they have unusual circumstances, such as the starting of a third family. Source: Legal Business