London: Women in the UK aged 65 today can expect to live until 89 as a result of improvements in life expectancy, says a report from the insurance actuarial profession.
The figures also reveal that men of the same age will on average reach their 86th birthday. Life expectancy figures are expected to continue to improve with men aged 65 in 2015 living until they are 90 and women until 93. Longevity is improving as a result of improved medical treatment for killer diseases such as cancer.
Whilst this is good news, state and private pension systems in most western countries are already suffering from the burden of a growing ageing population and poor investment returns. In the UK the Government is attempting to raise the age of retirement.
The figures, from the Continuous Mortality Investigation, suggests the life expectancy of today’s 65-yearold men is three-and-a-half years longer than in 1994, when the last study was conducted by the CMI. They questioned savers who are more likely to be middle-class and better off financially.
Official figures put life expectancy lower because they take data from all social groups. The latest Government figures show a girl born in 2002 can expect to live until 80. A boy born in the same year can expect to live until 76.