* Increasing life expectancy: One of the main reasons for raising the retirement age is that people are living longer. In 1901, the average life expectancy in the UK was just 47 years. By 2018, it had increased to 81 years. As a result, the UK government is concerned that the number of people claiming pensions will continue to grow, putting a strain on public finances.
* Changing demographics: The UK's population is also ageing. In 1901, there were 1.5 million people aged over 65 in the UK. By 2018, there were over 11 million people aged over 65. This trend is expected to continue, and the UK government is concerned that there will not be enough workers to support the growing number of retirees.
* Economic reasons: Raising the retirement age can also help to boost the economy. Older workers can still make valuable contributions to the economy, and they can help to fill skills shortages in certain industries. By raising the retirement age, the UK government is hoping to encourage older people to stay in work longer and to contribute to the economy.
It is important to note that the decision to raise the retirement age is not an easy one. There are a number of factors that need to be taken into account, including the impact on young people, the economy, and public finances. The UK government is committed to making sure that the retirement age is set at a fair and sustainable level.
Here are some of the arguments for and against raising the retirement age:
Arguments for:
* Increased life expectancy: People are living longer, so they should be able to work longer and enjoy their retirement.
* Changing demographics: The UK's population is ageing, so there will not be enough workers to support the growing number of retirees.
* Economic reasons: Raising the retirement age can help to boost the economy by encouraging older people to stay in work longer and contribute to the economy.
Arguments against:
* Unfair to young people: Raising the retirement age makes it more difficult for young people to find jobs, as they are competing with older workers who are willing to work for lower wages.
* Negative impact on health: Working longer can have a negative impact on health, especially for those who are already in poor health.
* Lack of flexibility: Raising the retirement age reduces the flexibility of workers to choose when they want to retire.
