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Monday, November 12, 2012

One third of babies born today will live to 100 (which is just as well as they'll only pay off their student loan at 52 and work until they're 70)


More than a third of babies born this year will live until the age of 100, experts have predicted. Some 156,000 girls and 135,000 boys can expect a telegram from the monarch thanks to improved standards of living and medical advances. But researchers from the Office for National Statistics point out that living longer isn’t necessarily good news. Newborn children are likely to be paying off their student loan until 52, their mortgage until 61, and have to remain in work until 70. And many centenarians may have very lonely existences if they outlive close friends and family.
 Living longer: Children born in 2012 are expected to live until they are 100, older than their parents and grandparents generations

Living longer: Children born in 2012 are expected to live until they are 100, older than their parents and grandparents generations

In total 39 per cent of the baby girls born this year are predicted to live until at least 100 compared to just 10 per cent of 80-year olds, who were born in 1932. And 32 per cent of the boys born this year will become centenarians in comparison to just 9.5 per cent of 80 year old men. Women tend to outlive men regardless of when or where they are born and scientists think this is due to differences in their biology.


It is partly thought to be down to the female sex hormone oestrogen, which is known to protect against heart disease. Additionally scientists think women’s genes make them better programmed to withstand biological aging. Last year the ONS predicted that a quarter of all children will live to 100. They said that of the 12.4 million youngsters aged 16 and under, at least 3.3 million will become centenarians. David Sinclair, head of policy and research at the International Longevity Centre said that in future living until 100 will be far more routine.
 Official recognition: The monarch is expected to be a lot busier in 100 years time sending out telegrams

Official recognition: The monarch is expected to be a lot busier in 100 years time sending out telegrams

But he also pointed out that poor planning by governments may mean there would not be enough places in sheltered housing, for example, to accommodate everyone. He said: ‘It is of course good news that so many more people are living longer. but there is a big ‘but’. ‘In many ways today’s centenarians are unrepresentative. They are people who have escaped cancer, heart attack and stroke and so they are actually healthier than many people younger than them. Now that we are getting so much better at keeping people alive, that will no longer be the case. We will be older, but in worse health, and at high risk of living alone in unsuitable accommodation.’
 Paying off: Debt is expected to take longer to pay off

Paying off: Debt is expected to take longer to pay off

The future is not bright: The forecast predicts that babies born in 2012 will be retired for 30 years
The future is not bright: The forecast predicts that babies born in 2012 will be retired for 30 years

‘The other problem is that we are very poor at forward planning, as politicians and individuals. We deal with the problems that are under our noses, but even problems two or three years away seem quite distant enough to put off. ‘When you’re talking about forecasts for a time half a century away and more, I see no evidence that we are putting in place the measures to deal with it.’  Experts also warn that a rising life expectancy means the state pension age also has to go up.
It is rising to 66 in 2020 but some financial advisors believe today’s children will not be able to withdraw their pensions until they are 70.

Source: Daily mail UK 

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