25 September 2018

People must plan for longer retirement as stats show number of over 90s continues to grow

3 min read

 
Helen Morrissey, Personal Finance Specialist

Helen Morrissey

Personal Finance Specialist

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Commenting on the publication of figures showing an increase in the number of people aged over 90 Helen Morrissey, Pensions Specialist, said: 

"This morning’s statistics show that while increases in life expectancy at age 90 have stalled, the number of people aged over 90 has continued to grow. Such a trend has big implications across the board for pensions and retirement planning. In the workplace sponsors of defined benefit pension plans will need to take this into account when funding their pensions over the long term. Meanwhile individuals will have to make sure they have adequate funds to sustain them over ever longer retirements. This may also include the need to think about how to meet the increasingly likely chance of facing long-term care costs later in life."

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Helen Morrissey, Personal Finance Specialist

About Royal London

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £117 billion, 8.8 million policies in force and 3,745 employees. Figures quoted are as at 30 June.

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