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Business group issues warning on 'inadequate pensions'

Business News 17 Dec 2013

The latest life expectancy figures from the Office for National Statistics have prompted a leading business group to issue a call for a change of attitudes regarding retirement.

The figures suggest that one in three babies born this year will live to see their 100th birthday, while around 85,000 people aged 65 in 2013 are also expected to celebrate their centenary.

Malcolm Small, Senior Pensions Policy Adviser at the Institute of Directors, said, 'It is a mark of immense social progress that one in three babies born today will live to be 100, but this holds out the prospect of a 35 year retirement for today's youngsters'.

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