Pensioners told to get back to work as taxpayer cannot afford to pay their pensions

Older people are being told they may need to rethink their retirement plans. According to a new report from the International Monetary Fund (IMF), many pensioners are still healthy and mentally sharp, meaning they should keep working longer instead of retiring early.

The IMF now says that people in their 70s today are just as mentally alert as people in their 50s were twenty years ago. Thanks to better healthcare, more education, and healthier lifestyles, older people are also staying physically stronger for longer. Tests on strength and lung capacity show that many 70-year-olds are now as fit as someone 15 to 20 years younger would have been back in the year 2000.

The report is based on information gathered from 41 different countries, using millions of health checks. But behind all the praise for healthy older people is a clear warning from the IMF: countries simply can’t afford to pay for long retirements anymore.

Governments around the world are struggling with massive debts, while at the same time, fewer babies are being born. This means there are fewer workers paying into the system, while more older people are relying on pensions. If this trend continues, the IMF says it could slow down the global economy for decades, cutting growth every year until 2050.

In the UK, the warning signs are already here. The national debt has reached £2.8 trillion, nearly as big as the entire economy. And with the birth rate at just 1.44 children per woman in England and Wales, there are concerns that the country is heading toward a serious population crisis.

To deal with this, the IMF is suggesting major changes. They want governments to raise the age when people can start claiming their pensions. They also recommend cutting back on perks that encourage people to retire early. At the same time, they believe countries should offer rewards, like tax breaks, to encourage older people to stay in work.

The IMF praised Singapore for getting it right. The country has invested in community gyms, housing support for families, and other policies that have helped it jump to the top of global life expectancy rankings.

But not everyone agrees with the IMF’s ideas. Critics say that forcing people to work into old age isn’t fair, especially for those who’ve done physically demanding jobs all their lives. These workers might not be as healthy in their 70s and may not be able to keep working even if they want to.

There’s also a growing gap between rich and poor. Wealthier people tend to live longer, healthier lives, while those with lower incomes often face worse health and shorter lifespans. So while the IMF talks about older people staying active and productive, the reality for many may be far more difficult. For some, the idea of working into their 70s doesn’t feel like a new opportunity—it feels like being trapped.