How long your savings will need to last
How long do you think you’ll spend in retirement? People tend to underestimate the length of their retirement, but research carried out by the Office of National Statistics in 2018 shows us that people are living longer now than ever before:
- A man aged 65 years in the UK can now expect to live, on average, to 85 and a woman of the same age to 87
- A boy born today could expect to live to 88, whilst a girl could expect to live to 90
This means that your savings may need to last longer than you think. Use the Office for National Statistics tool to see what this might mean for you.