Longevity is a topic of significant importance to defined benefit pension schemes and their actuaries. Pensioners living for longer means pensions being paid for longer, and hence higher overall costs.
So, what information might we be able to glean from the latest longevity research, what does it all mean for LGPS Funds - and why on earth does it have anything to do with the last time you went shopping for shoes?
Improvement of mortality rates for males p.a.
Improvement of mortality rates for females p.a.
"Just like shoes, mortality tables are not a “one size fits all” affair. Life expectancies can differ significantly depending on many complex factors, including geographical location, income, socioeconomic class, occupation and lifestyle."
To find out more, please download the briefing note below.