Pension Crisis Looming: State Pension Age Set to Rise Sharply as Life Expectancy Increases
London, England – The increasing life expectancy and financial constraints call for a significant rise in the state pension age in Britain and beyond. With national debt soaring and pensions becoming the largest driver of government spending, tough decisions must be made regarding retirement eligibility. When the first state pension was introduced by Lloyd George, life expectancy was much lower at 51 years old, yet the retirement age was set at 70. Currently, with life …