This Is Money Show

One thousand years ago, life expectancy was about 30 years. In 30 years’ time, someone will be born who could live to 1,000. This causes a problem for the pensions industry and governments. It’s tough enough finding an income for a few months without working, never mind 935 years. This is the kind of problem experts have been grappling with lately and some of the results are emerging. On the table are joys such as working until you’re 105 years old, abolishing the State pension or coming up with ill-conceived alternatives such as the pointless Lifetime Isa. Most likely, if you’re under 30 now, you’ll probably retire at 70, or under 45 and you’ll work till you’re 68. The triple lock guarantee that ensures the State pension rises by inflation, earnings or 2.5% , whichever is higher, could be scrapped because the Government is ideologically against raising taxes to pay for it. Pensioners will be worse off without a solid alternative. Britain’s pensions used to be best in the world. Like a lot of th