The Pension and Retirement age should leap to 70 years old

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Shadrach   in Alternatives

Last updated: 08 January 2020, 05:41 GMT

Think no more about an early retirement, "we should be working until ware 70" as it was claimed.

That is because we are now anticipate to live well into our 80s, the Office for National Statistics said.

Britons are now living well into their 80s because of better healthcare, diet and lifestyles, as it was revealed

It has been suggested that the ‘three score years and ten’ – the Biblical lifespan – has instead become the point at which people should give up work. In the 1980s those who reached 65, the retirement age for men, could expect to live around another 15 years.

In 2017, men aged 70 and women 72 could expect a further 15 years of life.

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Living Longer: Is Age 70 The New 65?, could persuade governments to raise the state pension age further. It was used to be 65 for men and 60 for women but is now 66 for both sexes and is due to the rise to 67 in 2028.

In the UK, 65 years of age has traditionally been taken as the marker for the start of older age, most likely because it was the official retirement age for men and the age at which they could draw their state pension. In terms of working patterns, age 65 years as the start of older age is out of date. There is no longer an official retirement age, state pension age is rising, and increasing numbers of people work past the age of 65.

Longer lives mean people can continue to contribute for longer – through longer working lives, volunteering, and possibly providing care for family members, for example, grandchildren. For individuals it might mean the opportunity to spend more time with family and friends and to pursue personal interests with more time for leisure activities.

On the other hand, the more older people it means the demand for health and adult social services, and increased public spending on state pensions would increase.