Darling 'should raise annuitisation age to 80'

The comments come as figures from the Institute and Faculty of Actuaries show life expectancy is rising faster than expected. The institute has sent letters to its members warning life expectancy for 65-year-olds since 2000 has not been rising faster than 10 years ago. The figures suggest a man born in 1950 will have an average life expectancy at 65 of almost 90 years. Kim Lerche-Thomsen, chief executive of Living Time, says: “The Government has reacted to increased longevity by measures to raise the state pension age to 68 by 2050 and the age of taking benefits from 50 to 55." He says t...