The retirement age increasing isn't strictly necessary just because people live longer. As long as a stable rate of interest exists, retirees can save up enough

The retirement age increasing isn't strictly necessary just because people live longer. As long as a stable rate of interest exists, retirees can save up enough money and keep living off the interest payments. All that's required is that they're able to save up the same amount in the same time frame (provided the rate of interest doesn't change). Unfortunately, we haven't had a stable rate of interest for over a century.