Life expectancy is hitting record levels, raising significant challenges around how individuals manage their wealth and how society continues to provide social and financial support in the form of pensioner benefits, healthcare and long-term care.
The European Commission’s Annual Growth Survey 2013 identifies several policy approaches to address the longevity issue, including aligning retirement ages with changes in life expectancies, restricting access to early retirement and supporting longer working lives. Creating better conditions for healthcare innovation and development offers more possibilities. To further the debate on this important issue, the Institute and Faculty of Actuaries and the International Longevity Centre (ILC-UK) have joined forces to host a series of events and research as part of their report, The Cost of Our Ageing Society.
This article was published in the May issue of The Actuary.
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