New Office for National Statistics (ONS) data shows that over 13,000 people in the United Kingdom are 100 years old or older, a 70% increase in a decade. This means that one in three children born today will reach 100.
Broken down even further, the data reveals that over 11,000 women are 100 years old or older, while only a little over 2,000 men are considered centenarians.
After the release of these statistics, the Minister for Pensions Steve Webb decided to further explain what all of this really means.
“Many of these people will have retired for 30 years or more, meaning inflation may have taken a toll on their pension and savings,” Webb said.
It is for this reason that the Triple Lock guarantee has been set in place. This will ensure that the State pension now rises by whichever is highest, out of earnings, prices, or 2.5%. He also said that as the nation’s demographics change, the nation is actually committed to continue to provide a basic level of income so that people never forget that their hard work will continuously be rewarded well into retirement.