IEA Editorial and Research Fellow Professor Len Shackleton has been quoted in The Daily Express outlining how the fiscal and social realities of the 21st Century will create profound changes to pensions.

Len said:

“‘Retirement’ in the sense we think about it – a withdrawal from the workforce while we are still capable of productive work – is very much a twentieth-century invention.

“Final salary pensions are disappearing, state spending is overstretched, people are living longer and there are fewer young workers to support them,”

“If these trends continue, retirement is likely to be delayed more or less indefinitely, certainly for those who have not been employed in physically demanding jobs, and may revert to the 19th-century norm, when retirement was only for the infirm and those incapable any longer of sustained physical effort in factories and mines.”

Read the full article here.

Len’s comments were also featured in Tech Register.