Retirement age expected to increase by six months per year

Currently, in 2014, the average age of retirement is 64.7 for men and 63.1 for women. With the number of over-65s expected to increase by more than 50 per cent in the next 20 years, government officials are calling plans ambitious and necessary. This means that people who are now in their late twenties are likely to have to work until their 70th birthday.

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