25 September 2019

As the number of people aged over 90 continues to grow government must address ticking time bomb of retirement under provision

3 min read

 
Helen Morrissey, Personal Finance Specialist

Helen Morrissey

Corporate PR Specialist – Long Term Savings

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Commenting on today’s data which shows the number of people aged 90 years and over continues to grow, Helen Morrissey, pension specialist at Royal London, said:

“With more people living into their 90s we need to take a closer look at traditional views of retirement and whether they remain fit for purpose. With people living 30 years past traditional retirement age, government must deal quickly with the ticking time bomb of lack of appropriate retirement provision by looking at whether auto-enrolment minimum contributions need to be raised to help people save more. Other workers may wish to work for a while after the age of 65 to bolster their pension and we need to ensure they are able to do so.”

Notes to Editors

A link to the data Estimates of the very old, including centenarians, UK: 2002 to 2018 is here

https://www.ons.gov.uk/peoplepopulationandcommunity/birthsdeathsandmarriages/ageing/bulletins/estimatesoftheveryoldincludingcentenarians/2002to2018

About Royal London:

Royal London is the largest mutual life, pensions and investment company in the UK, with funds under management of £130 billion, 8.8 million policies in force and 4,046 employees. Figures quoted are as at June 2019.

For further information please contact:

Helen Morrissey, Corporate PR Specialist – Long Term Savings