16 April 2008
Lord Hunt of Wirral, the chairman of Life Trust Foundation
(established to examine how to cope with the financial implications
of an ageing society), has described longer UK lifespans as a
"ticking time bomb".
The new not-for-profit group said that fresh ideas were needed
to incentivise people to save for retirement. Lord Hunt commented
that a person of 55 had a one-in-two chance of reaching 90, but
two-thirds of them had not made any provision for funding
themselves later into their retirement.
