A longevity-focused think tank has proposed that the UK state pension age needs to increase by around four years to 70 or 71 by as early as 2040. The International Longevity Centre (ILC)

emphasizes the need for such an adjustment to maintain a consistent ratio of workers per state pensioner. Currently, individuals born on or after April 6, 1977, are required to work until the age of 68, with the possibility of this age being brought forward. Poor health is identified as a significant reason for workers exiting the workforce, posing economic challenges for the UK due to lowered productivity and increased taxes.

The ILC's Healthy Ageing and Prevention Index, evaluating 121 countries on indicators such as life span, health span, work span, income, environmental performance, and happiness, underscores the impact of an ageing population on the importance of healthy ageing initiatives. The index notes that countries with higher rankings face the challenge of supporting healthy ageing. With a projected ratio of 50% (one worker per retiree) in at least 20 countries on the Index by 2050, the pressure to increase the state pension age beyond 67 in the UK is highlighted.

Despite a temporary easing of pressure due to a stall in life expectancy during austerity years and the COVID-19 pandemic, the UK is expected to face the need to raise the state pension age to 68 or 69 after 2027.

The increasing number of people aged 90 or over and centenarians presents a demographic shift that warrants adjustments in pension policies. While raising the pension age is proposed as a solution, the ILC acknowledges the challenges, such as research indicating that by age 70, only 50% of adults are disability-free and able to work. Increasing the proportion of the economically active population may offer an alternative to minimize the state pension age increase. Photo by committees.parliament.uk.