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Latest longevity figures pose retirement saving problem

Retirement without adequate income is not a happy place to be

Experts have warned of undersaving for retirement as the latest figures predict increasing numbers of newborns will live to 100 years old.

The Office for National Statistics (ONS) figures found life expectancy was projected to increase, albeit at a slower rate, with an extra 8.6m people aged above 65 in half a century’s time - a demographic shift expected to put increasing pressure on already struggling care provision.

According to the figures 22.6 per cent of newborn boys and 28.3 per cent of newborn girls will live to 100 years old.

The data found a 65 year-old could expect to spend around half of their remaining life expectancy in good health, but the amount of time spent in poor health will increase as life expectancy rises.

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