Over-50s underestimate life expectancy by eight years

Potential retirement shortfall

clock • 2 min read

Some eight in ten savers between 50 and 64-years-old have underestimated their life expectancy, potentially leaving them with a shortfall in retirement, according to research.

The belief was most acute for women who, despite their life expectancy currently sitting at age 90, believed they will only live to age 82, according to research conducted by Retirement Advantage. Men also underestimate their longevity, believing they will live until age 82 when on average their life expectancy is age 88. Three-quarters of men underestimated their life expectancy, while 83% of women did the same. Just 5% and 2% guessed the average rate respectively. The figures came from a survey of 1,005 over-50s yet to retire with private or defined contribution (DC) pensions, co...

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