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P.ublished 12th November 2025
business
Firms Urged To Plan Partner Retirement Sooner
Image by Gerd Altmann from Pixabay
Retirement policies allied to longer and healthier lives mean that many partners face the prospect of spending more years in ‘retirement’ than in their working lives.
The survey was carried out among 650 partners, including those in the legal Magic Circle, The Big 4 accountancy firms and in a range of regional practices in both professions, who attended workshops run by Next-Up, a specialist in partner transition.
Founder and CEO Victoria Tomlinson, a former director of EY, author and speaker, is a recognised global expert on ‘un-retirement,’ inspiring, motivating, supporting and equipping partners and senior corporate executives for a life beyond the all-consuming embrace of ‘the firm.’
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Victoria Tomlinson
Thanks to advances in modern medicine and healthier lifestyles the 100-year life is no longer exceptional which means that partners retiring in their late 50s can expect to be retired longer than they worked. Most can expect 20 to 30 active years where they want to have purpose and achieve a better work/life balance.
From our research we found that more than 80% of partners think they can land non-executive roles. Many believe they can earn £100,000 - £200,000 or more a year on two or three days a week and imagine these positions just require a paid trip to London once a month or so followed by a catch up with old colleagues before heading back home again.
It’s simply not that easy. The two leading NED websites have some 200,000 members between them and there just aren’t that number of non-executive roles around. Most retiring partners are white and in their 50s at a time when Boards are looking for more diversity in their NEDs as well as those with specific sector experience. Once they realise the reality of the chances of landing a role and what’s involved if they do, the appeal fades.
They and their firms have to be helped, encouraged and provided with the tools to begin planning for this transition much earlier in their professional lives. Ideally, firms should have pro-active retirement planning as part of their talent acquisition programmes because when partners leave excited by the future and not longing for the past, its not only good for them but for their firms too.
75% of partners are uncertain about their future after leaving their firm and only 12% had a clear plan
Asked what matters most in their future objectives,79% said ‘feeling useful and relevant’ was most important, 58% listed ‘earning money’ as their second ranked motivation with 69% placing ‘status’ as only the third most important motivating factor
Of respondees who wanted to work with businesses post-retirement, 86% favoured an NED role, 76% were interested in becoming mentors with 46% interested in investing in businesses
Of those who wanted to be involved in education, 40% were interested in being a Visiting Fellow at University, 58% in mentoring students and 55% mentoring start-ups
Of partners who wanted to develop paid opportunities, 82% were interested in consultant roles, 52% in being a trainer for other organisations whilst 31% would like to run their own training courses. Starting a new business was an objective for 44% of respondees.
A change in mindset and confidence, from cliff-edge to next-chapter
Practical planning and ideas activation
Health awareness that triggers immediate behavioural change
Understanding the potential of mentoring entrepreneurs
Going from sceptical to practical about building networks on LinkedIn
Opening up positive future options that prevent partners from ‘ hanging on’ and blocking pathways to equity partnership for ambitious, younger talent
Providing clear goals to motivate and coach partners to build their own networks for post-retirement
Creating an important tool for helping partners to be ‘good leavers’ by providing safe spaces to discuss the ‘forbidden’ topic of retirement and sensitive matters such as handing over clients and developing their teams to take them on
Developing an ‘alumni dividend’ with growing evidence that partners who attend the workshops and subsequently leave their firms are more active, successful and engaged as alumni
Equipping partners with the tools to have healthier lifestyles even whilst still working
We pioneered the concept of ‘un-retirement’ for partners in professional services and in the five years we have been delivering our workshops in the UK and overseas we have amassed considerable data and insights that are invaluable in helping firms and partners successfully address what is a persistent and growing issue.