State pension age would be 74 if longevity non-variable

Trustees Agenda posted on 15 September, 2017

According to analysis by Hymans Robertson, if state pension age had risen in line with longevity improvements then individuals would now be retiring at 74. The research also revealed the average man would now be spending an extra nine years in work.

Commenting on the findings, Jon Hatchett, Partner and Head of Corporate Consulting at Hymans Robertson, said: "While UK average life expectancy is now 81, averages mask huge disparities. At one end of the spectrum the number of telegrams sent by the Queen to those reaching 100 has risen from 24 in 1917 to nearly 7,000 today. At the other, life expectancy in the most deprived parts of the country is a couple of decades lower than more affluent areas... Given these ranges it is right that we are not all retiring at age 74 today. [The analysis] underscores the need to commit to the changes suggested by Cridland in his recent review of state pension age, and to bring forward the increase to 68 between 2037 and 2039."