Pensions - Articles - Retirees can expect more years of healthy life

 Retirees in the UK can expect more years of healthy life but not all areas have seen improvements, latest official figures reveal.

 “Overall life expectancy at age 65 in the constituent countries of the UK is at its highest ever level for both men and women but this picture of a slow improvement hides regional and local effects where some areas are continuing to see strong gains and other areas falls.

 “The question of whether a 65-year-old can expect to live more of their lives in reasonable health depends on their gender and where they live. For men, improvements in health life expectancy are outstripping gains in life expectancy in England and Wales but not in Northern Ireland or Scotland. Women in England, Wales and Northern Ireland are living more healthy years, but not in Scotland.

 “For those wondering how many birthdays they might have left to enjoy, it is interesting to note that the most likely age of death – the modal age – is about seven years later than the average age of death. Ignoring future improvements, the most likely age of death for a man was 86.6 compared to an average age of death of 79.3. For women the most likely age of death was 89.1 compared to an average of death of 82.9.

 “For individuals, life expectancy may be interesting but is not a good figure to anchor on given the range of possible outcomes that might apply to their unique case. Some people die before you would expect while others survive far beyond average life expectancy. We don’t know which group we will fall into, so it is important to make financial plans that cover a wide range of possibilities.

 “For those approaching retirement, a good place to start is with the free, independent and impartial guidance offered by Pension Wise which helps to highlight some of the key financial decisions that need to be made when heading into life beyond work.”