Longer life expectancy sparks pension worries

Longer life expectancy sparks pension worries

New figures showing that life expectancy has risen in England and Wales have sparked pension budget fears.

Projected life length continued to increase during 2009 at a faster pace than the previous two years, according to the Institute of Actuaries.

Women currently aged 65 are expected to live for an extra 0.8 years until the average age of 90, with men seeing an average age of 87.5, 0.4 years higher than previously predicted.

This increase in life expectancy is sparking fears among pension funds, many of which already have huge deficits.

It could also see increasing numbers of older people seeking a care home to spend their extra years in comfort.

This latest rise in longevity is due to a further fall in mortality rates throughout all groups aged 18-102.

Meanwhile, research commissioned by the Stroke Association found that a fifth of people suffer financially after experiencing a stroke.

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