Over a quarter of people alive in the UK today will live long enough to celebrate their 90th birthday, according to figures published today by the Office for National Statistics (ONS).
During the last 100 years, life expectancy for both women and men has risen by an average of three years per decade.
In 1910, for example, the most common lifespan of a man was 51 years, but by 2012 this had jumped to 79. An equivalent increase from 55 to 83 was experienced by women.
And the rise has shown no signs of abating. The ONS estimates that 31 per cent of women and 20 per cent of men across all age groups will live to age 90 or beyond.
Tom McPhail, head of pensions research at Hargreaves Lansdown, said the figures emphasised the need for people to be careful with their finances in old age:
This continued improvement in life expectancy carries an important risk warning for those reaching retirement and drawing on their pensions.It is vital to ensure you have made financial preparations to meet your income needs well into your third, or even your fourth decade of retirement.