So actually one of the biggest problems facing the retirement industry is the increasing age of death.
50 years ago, the actuarial tables of mortality went to 100. All annuity and life insurance payouts were based on them, and it assume all the population would be dead at 100. If you were lucky enough to live to 100, your life insurance policy would "mature" and you would collect the value of it, tax free.
These days, thanks to increases in medical care, too many people have been living past 100. So they've revise the tables, and extended them out till 120. That was a decade ago (maybe more).
As medical technology gets better (and it's constantly getting better) you're going to have people living longer and longer, with better quality of life. This is going to push mortality (statistically speaking) out further and further.
That is, unfortunately unsustainable with our current standards of retirements. It used to be if you actually drew on social security and your pension, you were so worn out from working that you could expect maybe 5 years of "golden years." Now people are drawing down their pensions for 20, 30, 40 years!
We simply haven't budgeted enough for that sort of retirement. Expect that in 10-20 years "retirement" becomes a privilege for the rich (as in when Mark Zuckerburg became a billionaire he could retire). The rest of us will keep working until our bodies are worn out (maybe we'll stop thinking in terms of a retirement benefit and more in terms of a disability benefit).