Actuarially speaking

A new task for Britain’s Pensions Minister:

Steve Webb, the Pensions Minister, said retirees need to gain a sense of how long they might live to help make such financial decisions.

He said many people underestimate how long they will live. “If you are thinking about this, what do you do? For best guidance you probably think about how long your grandparents lived. But that is two generations out of date.”

The minister is asking pension providers to give people an estimate as part of guidance which will be rolled out in April next year.

Some estimates have already appeared:

Glasgow City has the worst life expectancy, 72.9 years, compared to Kensington and Chelsea in London on 82.4.

Report co-author Professor Danny Dorling said he could not be certain what had caused the increase, but it was most likely to be poverty.

He said: “As with all these things it is hard to explain why it is happening, but we know that income inequalities have increased and it seems this has been mirrored by health inequalities.

“If that is true, we might see a narrowing of the gap as the latest income figures show that has narrowed recently.”

I, of course, am taking no bets as to the date of my Ultimate Demise.







1 comment

  1. McGehee »

    22 April 2014 · 9:24 am

    In a country with universal single-payer halth care there is still inequality in health care outcomes?

    Obviously they’re still not spending enough. Nor taxing the earls and marquesses enough.

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