Planning for the future as life expectancy nears 100

Neil Wilson of True Bearing

Recently, I read “The 100 Year Life” by Gratton and Scott, two UK academics. It’s a thought-provoking read.

My children are still in education but with rising life expectancy, their lifespan could be very long indeed.

For children born in the Western world today, there is more than a 50 percent chance of living to be over 105. A century ago, the chance was less than one percent.

If you are now 20 you have a 50 per cent chance of living to 100. If you are 40 you have an even chance of reaching 95.

A child born today is likely to work into their mid-70s, and possibly beyond.

The historical three-stage life of education, work, retirement is changing and will continue to do so.

How do you plan for such a long lifespan?

That’s the big question. Without realising it, we are used to thinking of life in three stages.

Growing up and education to about the age of 20; then working to 60-65; then retiring and enjoying our free time, until frailty impacts our activity and ultimately our death.

Our time in this last stage is changing compared to our parents and grandparents.

We are expecting to live many years beyond our retirement compared to previous generations.

However, pensions were only ever meant to pay out for 10-15 years. As we saved through 40 years or more of our working life, it was achievable to fund our initial expectations of retirement.

So how do we fund another 40 further years beyond work; our longer-than-expected years of retirement?

Reality shows that many of today’s 60- to 80-year-olds are not retiring.

Many continue to work, often part-time. They sell the skills they have built over the years and enjoy the best of both worlds.

Flexible pensions allow them to take a smaller part of their pension and add earned income.

They enjoy the sense of purpose of continued working, the social interaction with business colleagues, a satisfactory income, and yet still have some time to relax.

This is the new world of our older generation today. They need professional financial planning assistance to get this programme in motion.

Once you have drawn down even a small part of your retirement pension, shouldn’t you be able to top up your pension pot again?

Well, depending on the structure, and subject to certain conditions and limits, you can.

In my role as an independent financial planner I am often discussing goals and aspirations with those who are preparing for retirement, and are aware that they need to start planning before it is too late.

But, just as important, are the conversations with younger individuals, including those who are at an early stage in their careers, who realise that it is never too early to start planning for the future, and also more necessary than ever before.

Enjoyed this? Read more from Neil Wilson, True Bearing

Latest news

1

New India branch campus on the horizon for Lancaster University Keir Starmer meets Indian PM and included Prof Simon Guy Lancaster University. Pic Simon Dawson

New India branch campus on the horizon for Lancaster University

09 Oct 2025

2

Best events and talented students complete finalists list for Lancashire Tourism Awards 2026 Best Events and Talented students on Lancashire Tourism Awards finalist list

Best events and talented students complete finalists list for Lancashire Tourism Awards 2026

09 Oct 2025

3

East Lancashire Learning Group named UK digital transformation leader in CIO 100 Awards Andrew Dewhurst with the award win

East Lancashire Learning Group named UK digital transformation leader in CIO 100 Awards

09 Oct 2025

4

PHX Training appoints new business leader in Blackpool Jason Davenport PHX Training

PHX Training appoints new business leader in Blackpool

09 Oct 2025

5

Velocity seals Airbus extension worth up to $54m Velocity Composites Has Announced Its Entry Into The Us Market

Velocity seals Airbus extension worth up to $54m

08 Oct 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Help to grow management course
Help to grow - barriers to growth.png.png
LBV Hub Seminars
26 Sep 2025 - 16 Dec 2025

Help to grow management course

Preston Campus , Preston , PR1 2HE

09:00 - 15:00

Advantage: AI – A Workshop for Business Leaders – Oct 10th
Ai 10.10.png.png
LBV Hub Seminars
10 Oct 2025 - 10 Oct 2025

Advantage: AI – A Workshop for Business Leaders – Oct 10th

Door4 Office, Burnley Wharf, Burnley, BB11 1JG

09:00 - 12:00

Unlocking major project opportunities in the North West
Lancs-cham-logo.jpg.jpg
LBV Hub Seminars
15 Oct 2025 - 15 Oct 2025

Unlocking major project opportunities in the North West

Strathmore Hotel, Morecambe, LA4 5AP

08:00 - 10:00

The New Employee Rights Landscape: Day One Compliance Essentials
EventBrite NORi - 15th Oct 2025 Webinar.png.png
LBV Hub Webinar
15 Oct 2025 - 15 Oct 2025

The New Employee Rights Landscape: Day One Compliance Essentials

Microsoft Teams, Microsoft Teams, PR253XH

13:30 - 15:00

The Autumn Re set - pour me a wine
LBV Advert_Autumn Reset 1200 x 630px.png.png
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

The Autumn Re set - pour me a wine

The Artistry House , Preston , PR1 3JJ

17:30 - 19:30

The Business Network Central & East Lancashire
LBV Header (26).png.png
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

The Business Network Central & East Lancashire

Stanley House, Blackburn, BB2 7NP

11:30 - 14:15

October Freelancer Meet-Up
LBV Hub Networking
16 Oct 2025 - 16 Oct 2025

October Freelancer Meet-Up

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Women scaling up Blackpool Fylde and Wyre
LBV Hub Seminars
22 Oct 2025 - 09 Jan 2026

Women scaling up Blackpool Fylde and Wyre

The Small Business Academy, Blackpool, FY4 5JX

09:30 - 15:30

HR Essentials for pubs, bars and licensed venues
EventBrite NORi - 22nd Oct Webinar.png.png
LBV Hub Webinar
22 Oct 2025 - 22 Oct 2025

HR Essentials for pubs, bars and licensed venues

Online - Teams, Leyland, PR253XH

13:30 - 15:00

RISE - Lancashire's unique leadership programme for women
thumbnail_Emma Weston Illustration WENDY BOWERS RISE Illustrstion.jpg.jpg
LBV Hub Seminars
22 Oct 2025 - 18 Mar 2026

RISE - Lancashire's unique leadership programme for women

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:30 - 15:30

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV124 Online Graphic
Subscribe now

Weekly news bulletin