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The UK retirement age should rise to 71 by 2050 to be able to preserve the variety of staff per retiree, in response to a brand new report. Analysis by the Worldwide Longevity Centre discovered a lot of the 121 international locations it checked out had quickly ageing populations – “making it more and more essential for these governments to behave to assist wholesome ageing”.
Its report advised the present UK retirement age wouldn’t be sufficient and that anybody born after April 1970 might need to work till they’re 71 earlier than claiming their pension. The present state pension age is 66. It should rise to 67 between Might 2026 and March 2028. From 2044, it’s anticipated to rise to 68.
The latest stalling in life expectancy through the austerity years and COVID has quickly eased the stress for will increase in state pension age past 67, “however longer-term the stress can be on to extend it to 68 or 69”, the report added.
Nonetheless, researchers famous that even with will increase in state pension age, the rising burden of preventable ill-health “will proceed to behave as a key barrier for folks to stay within the labour market”.
Its analysis advised {that a} “larger focus” was wanted on stopping ill-health not simply in previous age however from early age by maturity.
Final week, figures from the Workplace for Nationwide Statistics (ONS) additionally confirmed the inhabitants of the UK is projected to develop from an estimated 67 million in mid-2021 to 73.7 million by mid-2036. This represents a rise of round 6.6 million, or 9.9%.
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