Monday, October 10, 2011

The Trend toward increased longevity would appear to be accelerating

Check out an article at http://www.fightaging.org/archives/2011/10/big-money-actuarial-work-as-a-measure-of-public-understanding-of-longevity-science.php it is very interesting because I have long predicted that the first significant indication that we are making real progress in life extension would arise when rather than adding the 24-30 months per decade as we have for the last 50 years plus we would see an acceleration in the rate at which life expectancy was increasing year on year. I predicted in 2005 that by 2015 we would see an increase of 5-6 months per annum as opposed to the current 2.5 months so if this trend continues I am confident we might have turned the corner. Below is the crucial part of the article. Quote: The [UK's] biggest firms have increased their pensioner longevity assumptions for the fifth year running in a move which has added about 1% to scheme liabilities, Mercer says. Research from the consultant found FTSE100 companies had increased their UK longevity assumptions by about three months for current pensioners and by about five months for future retirees compared to the previous report in December 2009. It said, on average, male scheme members aged 65 are projected to live until 87.2, while those currently aged 45 who survive until 65 are expected to live until 89.2. Mercer said this represented an increase of about two years in life expectancy from its 2006 report - which means companies believe life expectancy has improved faster than previously expected, which has added to pension bill.

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