Retirement
- When Pensions were introduced in the early 1900s there were 22 people of working age in Britain for every retired person. In 2024 there will be less than three: Preparing for Ageing
- Almost half of recipients of Incapacity Benefit are between 50 and state pension age – some 1.2 million people. (The New Old Age_The Lab)
- Private pensions lost about 29% value over the first 3 months of 2009 casting a shadow on those people who counted on it for their retirement: Recession hits private pensions
- The implications for what we think of as retirement are profound. Since 1945, our whole approach to the period of life after work has been based a premise that it should last, on average, some 15 years. Yet we are now looking ahead at an average of 25 to 30 years, and far longer for some. By 2031, official projections suggest, there will be 57,000 people in the UK aged 100 or more. (The New Old Age_The Lab)
- But how many employees wish to work beyond the state pension threshold? According to the 2008 CBI /Pertemps employment trends survey, covering more than 500 employers, 31 per cent of workers reaching 65 ask to continue. Other surveys suggest, however, that some six in 10 workers have already retired by 65. (The New Old Age_The Lab)
- ONS statistics show that there are currently 3.3 workers to every person of pensionable age, but that this is projected to fall to 1.8 workers per pensioner by 2080. (The New Old Age_The Lab)
