Retirement Age Increase

September 14th, 2015

The Office of National Statistics data shows that life expectancy has risen by about 3 years every decade since 2010, says the Telegraph. In 1910 male life expectancy was 51; a century later it is 79 and still rising. Since the government has said that it is realistic to expect a third of adult life to be spent in retirement, that implies a rise in state pension age to 70 by 2050.

Some people may consider this bad news but for active healthy people a longer working life should not be a problem, and the good news is that it gives longer to accumulate the savings you need to rely on in retirement.