More older Brits might face financial hardship before retiring, according to an expert. Recently released ONS data shows a drop in healthy life expectancy, meaning that fewer people are making it to retirement age in perfect or very good health. In fact, the life healthy expectancy in the UK has fallen to its lowest level since records began. This has sparked concerns about the rising state pension age.

In the period between 2022 and 2024, men could expect to spend 60.7 years in “good” health, while females could expect to live healthily to 60.9 years. This marks a decline of 1.8 and 2.5 years, respectively, compared with 2019 to 2021. These records began back in began in 2011 to 2013. This comes despite increases in overall life expectancy, with Brits living longer in general. The general increase in life expectancy has led to a planned increase in the state pension age, which is set to gradually go up, depending on when you were born.

The state pension age is set to increase from 65 in 2018 to 66 in 2020 and is due to reach 67 by 2028. Plus, more increases will be reviewed, and the age could possibly rise to 70.

Stuart McDonald, head of longevity at LCP, said: “Healthy life expectancy has fallen sharply in recent years and is now at the lowest levels recorded since the data series began,” he said.

“These numbers should be a wake-up call. The cost of ill health is rising.”

Meanwhile, LCP partner Steve Webb said that this could lead to people struggling financially before retirement. He warned: “Fiscal pressures are leading governments around the world to hike state pension ages, but this risks creating a growing chasm of years in poor health before state pension kicks in.”

Investment firm AJ Bell has created a new chart to make it easier for people to determine when they will now reach the State Pension Age. The firm said that many Brits will be “inevitably” confused as the phased changes come into effect.

Many of those affected during the transition will inevitably be completely unaware that this is happening and have to plug an income gap, albeit potentially only for a few months, as a result,” said Hannah Willford, an investment expert.

Those born between April 6, 1960, and May 5, 1960, will now reach State Pension Age when they are 66 years and 1 month old. After that, people born between May 6, 1960, and June 5, 1960, will reach the State Pension Age at 66 years and 2 months old. That gradual increase continues until  we reach people who were born on or after March 6, 1961, who will reach the State Pension Age when they turn 67 years old.