Employment and business

Is 81 the new 65?

'Old Woman Dozing by Nicolaes Maes 1656. Currently exhibited Royal Museums of Fine Arts of Belgium. Image: Public Domain.

‘Old Woman Dozing’ by Nicolaes Maes 1656. Currently exhibited Royal Museums of Fine Arts of Belgium. Image: Public Domain.

For young people joining the world of work today, a life of leisure is looking further off than ever.

A recent report by Royal London found that the average 22 year old – making the minimum statutory contribution – would need to work until the age of 77 to enjoy the kind of ‘gold standard’ pensions sixtysomethings are claiming today.

And it doesn’t stop there.

Because the figure fluctuates according to where you live, those based in Westminster, for example, are currently looking at a retirement age of 81.

Just how high the rise will go won’t be confirmed until next year, but with the government now looking to implement changes for 2028, it seems certain that everyone under the age of 55 will be affected.

So how are we feeling about earning into our eighties?

We took to the streets of London to find out.

 

Produced and written by Anna Burns and Astrid Hald.

 

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