Does Living Longer Mean Working Longer?

Does Living Longer Mean Working Longer?

Rising lifespans may cause unexpected bureaucratic consequences like an increase in the age of retirement.

Jonathan Fincher
  • 28 march 2011

Chancellor George Osborne, the UK’s top economic and financial minister, has announced plans to automatically raise the country’s retirement age regularly to keep up with rising life expectancy rates. Osborne explained the move is meant to off-set the economic issues raised by the growing number of retirees collecting pensions at the relatively young age of 65.

Currently over a fifth of the population is expected to live to at least 100, and the ratio is due to increase tenfold over the next few decades. A significant portion of the workforce could stand to receive taxpayer-funded pensions for far longer than anticipated if nothing is changed. Other European countries, such as Sweden, Norway, and Germany, have already linked national retirement age to life expectancy in some way. Osborne has proposed frequent independent studies on life expectancy rates, which would be used to determine an appropriate pension age. The state retirement age is already set to rise to 66 in 2020. With average lifespans increasing by about seven months each year, employees up to 40 years old might face retiring as late as age 80.

Critics have already warned that this drastic legislation may be harmful to those in poor health, like Michelle Mitchell of Age UK:

We accept that rises in the state pension age should be considered. But we must guard against any automatic system for future increases being based solely on average life expectancy. Other equally important factors must be taken into account such as the impact on the poorest, the unemployed and those with health problems.

The Telegraph:”Budget 2011: Younger Staff Will Work to 80 Under Pension Link to Rising Lifespans”


Dubai And The Future Of Humanitarian Design

Design & Architecture
Technology Yesterday

Concept Camera Designed To Only Take Unique Photos

Camera Restricta is tool that prompts photographers to only capture one-of-a-kind images

Design & Architecture Yesterday

Fragrance Will Release The Smell Of Data If Your Private Information Is Being Leaked

The device is designed to create a physical cue for the potential dangers lurking online


Get PSFK's Related Report: Sports Debrief

See All
Retail Yesterday

LYNK & CO Is A New Auto Brand That Promises Mobile Connectivity On Wheels

Online access and mobility sharing are driving the company to disrupt the auto industry

Travel Yesterday

Become A Citizen Of The First Nation In Space

Asgardia is a new concept for a floating society above Earth

Entertainment Yesterday

Speaker Displays Song Lyrics As Music Is Played

The device is able to generate the graphics on a translucent screen and retrieve the words from a connected database

AI Yesterday

Travel Assistant Scans Your Emails To Make Planning Easier

This AI add-on will sync with your inbox and sends reminders to make sure you don't miss anything important


Future Of Automotive
Scenarios Driving The Digital Transformation Of An Industry

PSFK Op-Ed october 17, 2016

Home Depot Green Energy Expert: Americans Are Taking Control Of Their Power Use

Green tech expert Jennifer Tuohy discusses new home energy tech and developments for renewables in the US

PSFK Labs Yesterday

PSFK Picks: Top 5 Performance-Enhancing Wearables

Our new report looks at innovations pioneering the future of performance through intelligent activewear and predictive analytics

Millennials Yesterday

FOMO Survival Kit Helps Millennials Cope With Social Anxieties

The satirical product is meant to be a playful diversion for people who feel like they are missing out

Food Yesterday

New York Restaurant Uses Tomato Sushi As Its Newest Meat Alternative

fresh&co is using sous vide Roma tomatoes to create a vegan option that has the texture and taste of tuna

Advertising Yesterday

Red Bull Converts Sao Paulo Payphones Into Data-Driven Bus Schedules

The booths allow city residents to check local transit times through a simple toll-free phone call

Work Yesterday

Health Expert: Nutritional Meal Replacements Are A Solution To Corporate Wellness

Ample Foods Founder Connor Young explains why supplements are the next food trend coming to the workplace

Retail Yesterday

Why Experiential Events Could Replace Trade Shows

Marketers are seeking creative and impactful new ways to connect with influencers

Children Yesterday

Modular Kit Teaches Kids How To Make Their Own Robots

MODI features magnetic modules and a platform for programming to encourage experimentation

Infants Yesterday

Work Table Doubles As A Baby Seat

Designer Kunsik Choi created the furniture to facilitate emotional communication between between parents and their children

Technology Yesterday

Album Turns Into Something New Each Time It’s Streamed

Bill Baird's new album explores the relationship between time and music through a website crafted by design team, One Pixel Wide

No search results found.