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
About Royal London:
Royal London is the largest mutual life insurance, pensions and investment company in the UK, with assets under management of £139 billion, 8.6 million policies in force and 4,348 employees. Figures quoted are as at 30 June 2020.