One in seven women in the UK who are currently 65 will live 100 years, according to the latest figures from the Office for National Statistics (ONS).
The report also reveals that of the 374,000 men and 393,000 women aged 65 this year, around 8 per cent of men and 14 per cent of women are expected to reach 100.
And the figures for longevity are increasing with a forecast that 30 per cent of boys and 39 per cent of girls born in 2013 will live to 100.
The ONS report said there are currently 14,000 people in the UK who are 100 or over, compared to just 600 in 1961.
The ONS figures also revealed that in the last tax year of 2012/13, payments for pensions and pension credits cost £94billion. The figures also predict that by 2062/63, the predicted bill could rocket to £438billion, a cost which the Government plans to offset by increasing the State pension age.
Rising life expectancy rates have already had a significant impact on the age the Government will be able to let people stop working and start claiming their pension.
At the moment, a woman can claim her State pension from the age of 61 and nine months while a man’s State pension is paid from 65.
But there are plans for both sexes to reach a pension age of 68 in the ‘mid-2030s’ with another rise to 69 by the ‘late 2040s’.