Someone born in 2012 could expect to build up £73,000 worth of student debt, according to economist Steve Lucas.
According to a new study, financial pressures from university and housing costs will mean the next generation would have to start saving at the age of 25 to prepare for 30 years of retirement. Mr Lucas said:
– Steve Lucas, Economist
In the future, older workers - especially in the professional and business services sector - are likely to stay working longer into their 70s, but the nature of this work will become more flexible and probably more part-time.
Workers in manual or vocational careers are also likely to look to extend their working lives by undertaking a less strenuous, more part-time role.