Life expectancy for typical retirees has fallen by several months, according to analysis of mortality data.
The life expectancy of a man aged 65 has been cut by about three months to 22.5 years, while life expectancy for a 90-year old male fell by about 1.5 months to 4.46 years. The numbers are from the Institute and Faculty of Actuaries. It monitors mortality for pension schemes across the country. Pension consultant Towers Watson said the reduction in life expectancy could reduce scheme liabilities by up to 1% for some funds. Senior consultant Matthew Fletcher said: "After years in which it seemed that life expectancy assumptions only ever got ratcheted up, the latest data points to sl...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
