“….the growing numbers of people living into their 80s and 90s would leave taxpayers with a rising bill and meant “the sums” would never add up if people continued to retire in their 50s.

In future, increases in life expectancy will automatically trigger a rise in the state pension age, with most of the extra years of life to be spent working.”

The combination of increased life expectancies and skyrocketing health care costs will bankrupt most of the Western economies if no action is taken. While Australian politicians are yet to tackle this issue so bluntly, it’s only a matter of time before they will be forced to admit the problems. The UK may be in a worse position than Australia, but we are not far behind. It is time for our politicians to show bi-partisan support for how best to tackle this looming problem.