Baby Born In 2011 Nearly 8 Times More Likely To Reach 100 Than One Born In 1931, UK

A twenty year old British person has a three times greater chance of reaching 100 years of age than a person who is 80 (their grandparents), and 1.6 times the chance compared to their 50-year-old parents, a new analysis issued by the Department of Work and Pensions, UK, revealed today.

The authors added that a baby born in 2011 has nearly 8 times the chance of reaching 100 than those born in 1931.

1 in every 3 baby girls born this year will reach 100, and 1 in every 4 baby boys.
Steve Webb, Minister of State for Pensions, said:

"These figures show just how great the differences in life expectancy between generations really are. The dramatic speed at which life expectancy is changing means that we need to radically rethink our perceptions about our later lives. We simply can't look to our grandparents' experience of retirement as a model for our own. We will live longer and we will have to save more."

By the year 2066, at least 500,000 UK citizens will be aged at least 100 years.

Chance of living to 100:

• Age today, 20. Male 19.5%. Female 26.6%. Unweighted average 23%.
• Age today, 50. Male 11.4%. Female 17%. Unweighted average 7.7%.
• Age today, 80. Male 6.2%. Female 7.7%.

Lord McFall of Alcluith, ex-chairman of the Treasury Select Committee, earlier this week published a report that warned about the country's pensions system. He said it was in urgent need of improvement. There are millions of employees in private companies that need to save enough for when they retire.

Lord McFall said:

"Too many people are stuck in a complex, costly and inefficient system that relegates the consumer's interest to second place. On top of that, they simply aren't saving enough to secure a decent retirement.

People need to get more bang for their buck or they're not going to bother with a pension. Instead they'll end up spending today, ignoring tomorrow and scraping by in poverty on the state pension. We cannot stand by and let that happen. The complacency of many in the pensions industry is alarming."