If you're calculating the years until retirement, consider staying away from Denmark. The nation has recently implemented a new law encouraging people to work longer. mandatory retirement age of up to 70 , set to be implemented in 2040, intended for individuals born in 1971 or after.
However, Denmark is not the sole location where this concept exists.
The UK state pension age Used to be 60 years old for women and 65 for men. Currently, it is set at 66 for everybody; however, this age limit will gradually rise until it reaches 67 for those born after April 1960.
Many believe that it will continue to increase even more - and having a European nation set a retirement age of 70 for the first time appears to be a notable benchmark.
This might lead people to question if their bodies can handle work after being in this world for seventy years, and if they'll be healthy enough to relish their later life. retirement years .
Clearly, individuals' physical and mental health vary greatly. However, authorities must base their choices on average statistics for the general populace. Therefore, what insights do scientific studies provide?
Rising life expectancy
There is no denying that the average life expectancy has largely gone up in most nations throughout the 20 th and 21 st Centuries have passed; however, over the last ten years or so, this increase has slowed down and might have reached a stable point.
In the UK, a female child born during the early 20s th In earlier centuries, one might have anticipated living up to 52 years. In stark comparison, life expectancy for women nowadays stands at 83 years.
However, the reason for increasing the retirement age hasn’t been based on individuals’ lifespans but rather on economics.
This situation arises because an aging populace implies that there are relatively fewer individuals of working age contributing funds to government treasuries as opposed to the greater number of elderly people receiving public pensions. As stated by Professor Alan Walker, a sociologist from the University of Sheffield, "The primary concern stems from political pressures related to pension expenses."
Regarding individuals' capacity to reach retirement age and enjoy several high-quality years before encountering poor health, it's not only important to look at life expectancy but also at what experts call "healthspan," according to Professor Richard Faragher, a gerontologist from the University of Brighton.
The term "health span," often referred to as healthy life expectancy, indicates the number of years an individual is expected to live in good overall health.
Sadly, the increase in life expectancy over recent decades hasn't been accompanied by similar improvements in healthy years lived, as stated in a 2021 House of Lords report titled Aging: Science, Technology andHealthy Lifestyle .
For example, in 2009, men were projected to live approximately 62.7 healthy years, which increased slightly to 63.1 healthy years by 2016—a rise of 0.4 years. Over this time frame, overall life expectancy for men also went up by 0.8 years.
For women, the health span decreased by 0.2 years during this period, whereas the life expectancy increased by 0.6 years.
To put it differently, even though life expectancy is gradually increasing, the duration of our lives spent in poor health is also growing longer. "At present, we are investing more resources into maintaining elderly individuals who are not as healthy," stated Professor Faragher.
Individuals with smaller earnings, who generally rely more heavily on state pensions compared to others, often find themselves engaged in physically demanding tasks. Consequently, due to bodily limitations, they might be compelled to cease working sooner than intended. "Poor health usually compels those from lesser economic backgrounds to leave their jobs prematurely," stated Professor Faragher.
Sense of purpose
Persisting with employment into later years might not be unfavorable for all individuals. Provided their health permits, this could offer folks a feeling of direction, noted Dr. Mark Cortnage, a public health researcher from Anglia Ruskin University.
A position at work can offer mental challenges too, and medical professionals typically advise maintaining continuous cognitive activity to aid in staying mentally agile. This might possibly reduce the likelihood of encountering Alzheimer’s disease or various types of dementia.
However, the proof supporting this method for preventing dementia remains inconclusive. Additionally, numerous alternative approaches can maintain cognitive engagement, like volunteering or caring for grandchildren.
Read Next: I underwent a new £1800 assessment to determine my likelihood of developing dementia – it was frightening but worthwhile.
It remains uncertain whether our life expectancy and healthy years will keep increasing. Certain scientists had earlier asserted confidently that this would be the case. Demographers study these trends. James Vaupel has forecasted that should these patterns persist, many infants born in Western nations after the year 2000 could reach their centennial birthdays.
However, Professor David Gems, a biogerontologist from University College London, remains doubtful. He stated, "This is an entirely unfounded projection without considering biological factors, presuming that trends will simply continue indefinitely, which is utterly impractical."
However, this is not likely to influence decisions regarding pensions. "Individuals might have somewhat subpar health, yet that does not automatically imply they're unfit for employment," stated Professor Gems.
The stark and severe truth is that our populace includes more elderly individuals and increasingly fewer young ones.