People with larger occupational pensions live longer than those with smaller funds, according to new longevity research from the Actuarial Profession.
Keynote new analysis* by the Actuarial Profession confirms that people on higher retirement incomes live longer but goes further than previous work in that – for the first time - it quantifies the difference.

The Actuaries’ Report looked at pensioners on four separate retirement income bands - under £4,500 a year; £4,501-£8,500 a year; £8,501-£13,000 a year and over £13,000 a year. The results show that the probability of dying between ages 60 and 65 is about doubled if the pension is in the lowest band, as opposed to the highest. As one gets older this ratio falls, but at aged 80 the poorest pensioners are still 50% more likely to die than those in the top band.

Brian Wilson, Chairman of the Working Party which conducted the research for the Actuarial Profession, commented: “This immensely important new research demonstrates that a key factor for living longer appears to be the level of income individuals receive in retirement”
Brian Ridsdale, Chairman of the profession’s CMI Executive committee added “This research continues our work of producing results from cutting edge investigations – a task the Actuarial Profession has carried out continuously for the last 80 years.

“The current interest in longevity is largely the result of the work done by the Profession in highlighting recent developments and drawing attention to the related issues. We intend to continue and expand this work in the years to come, publishing the data as quickly as we possibly can.”

Meanwhile, pensioners in the UK are more likely to die from cold this winter than older people in any other Northern European country, campaigners from Age Concern have warned. 22,000 pensioners are likely to die from cold-related illness this winter in the UK.

But the winter-related death toll in much colder countries, such as Finland and Denmark, was significantly lower, the charity said.

Gordon Lishman, director general at Age Concern, added: "It is scandalous that older people in the UK and Ireland are more vulnerable during the winter than those in much colder countries. Almost 2.4 million older people live in homes that are cold enough to cause illness, and this is just unacceptable. More needs to be done to help older people to heat their homes adequately without worrying about the cost."