She said: “New ONS statistics show that the population of people aged over 90 has still grown in 2020 but at a much slower rate than the 3.6 percent in 2019. However, despite the pandemic the number of centenarians in the UK rose to its highest ever level in 2020, reaching 15,120, an increase of almost a fifth from last year.
“There are lots of factors, which have caused this including massive improvements in health care and spikes in the number of births after the end of World War One.
“Although some statistics show that life expectancy is starting to plateau in its growth, we should not be under the illusion that we are going to start seeing a drastic decline in how long most live.”
She said other ONS statistics which have been released showed “life expectancy at age 65 was 18.5 years for males and 21.0 years for females, which represents a long period of time to fund without an income”. These estimates are very similar to those for 2015 to 2017 and with only a slight decline of 1.0 weeks for males and an increase of 3.1 weeks for females.
“Therefore, don’t be fooled by the drop in life expectancy, as there is still a good chance you will need the money well into your 80s if not longer.