Home > News > 2009 > September 2009 > Pensions lottery could make us all losers in long run
Pensions lottery could make us all losers in long run
Article by Jennifer Hill, The Sunday Times - Money Supplement, 13 September 2009
A former colleague relished telling me last week about two forthcoming new additions to the population. His wife is fit to pop with identical twin girls.
Even actuaries were speaking about it. Clive Grimley, a partner at Barnett Waddingham, bought into the most popular theory. “According to someone on YouTube, he used split-screen technology to give the impression that the balls were in the live shot, when in fact they were a static image,” he mused. “The left-hand side of the screen, which showed the numbered balls in a row, was a frozen image. In reality, an assistant was putting the balls in place during the 30- second delay between them being drawn and Brown revealing his numbers. Like Edward Norton in The Illusionist, it’s all a trick.” Just as illusory, he says, are projections of retirement income. Pensioners today can expect to spend a third of their lives in retirement — a figure that could grow to half our life or more, as we all die later.
To read the whole article visit
The Sunday Times website