Longevity errors could create £750bn pensions burden: IMF

Governments and the financial sector have consistently underestimated how quickly average lifespans will rise, often understating the increase by as much as three years, the IMF said. For Britain, the IMF calculated that, on the "not unreasonable" assumption that the cost would fall on taxpayers, the country's public debt would rise from 76% of GDP to as much as 135%. Reports calculate that additional cost would be about £750bn. The IMF said the extra costs would come from the state pension and public sector pensions, while some would also come from the state having to rescue faile...