Life expectancy hampers pensions

New life expectancy projections published yesterday suggest that people will live considerably longer than was assumed when the government decided how the State Pension Age should go up, according to Watson Wyatt. When the government proposed increasing the State Pension Age to 66 by 2026, projections indicated that life expectancy for people turning 66 in that year would be 20.6 years for men and 23.0 years for women. Average male life expectancy at 66 is now projected to reach 20.6 years by 2011. For women it is projected to reach 23.0 years by the end of next year.