Many small firms may be completely unaware of the legal changes that have just come into effect, and could face prosecution as a result, according to the Forum of Private Businesses.

The key legislative changes which business owners need to be aware of are:

Currently 16.5% of the UK’s population is aged over 65 and the figure is set to rise to 22% within 20 years, that’s almost one in four people.

"Older people are at the forefront of British society today - throughout business and industry, as well as in family life” said Pensions Minister Steve Webb.

"We must harness the skills and experience of our older generations and Older People’s Day provides an opportunity for us to celebrate the important roles that they play here and all over the world."