A design for life

With UK life expectancy increasing all the time, so too has the importance of securing a good pension, with greater services spending leading retirees to seek real income growth

UK life expectancy is increasing. This is not a new phenomenon. According to the Wellcome Trust, life expectancy at birth for England and Wales in 1851 was 40 years for males and 44 years for females. This has improved dramatically. The latest interim life tables (for 2003-2005) from the Government Actuaries Department (GAD) show life expectancy at birth of 76.6 and 81.0 years for males and females respectively. Historically, much of the increased life expectancy was the consequence of a reduction in the number of premature deaths. Improved public health and the development of vaccines an...