reuters
PENSION CHIEF BRINGS IMMORTALITY CLOSER
The government actuary has announced that it will scrap the so-called "limit to life hypothesis" in its life expectancy calculations. This means that in theory it will no longer be assumed that longevity cannot rise indefinitely, and in practice that life expectancies will increase slightly. For instance, a 65-year-old man will now be expected to live another 19.4 years rather than 19. This will exacerbate pension fund deficits further, but Adair Turner, chairman of the Pensions Commission, applauded the move saying that it made more apparent the pensions issue that Britain is facing.
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