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Life Expectancy Linked To Retirement Expectations

There is a strong connection between subjective life expectancy and retirement expectations, says a research paper by the Center for Retirement Research at Boston College. ‘How Do Subjective Longevity Expectations Influence Retirement Plans?’ examines how subjective life expectancy influences planned retirement age and expectations of working at older ages. In general, the research reveals people who are more optimistic about reaching ages 75 or 85 are three to seven percentage points (or eight per cent to 24 per cent) more likely to be planning to work into their 60s and to work three or four months longer. These results were found to be consistent across all variables, though they were somewhat stronger for women. The research shows 68 per cent of those queried expect to live to at least the age of 75 and 47 per cent expect to live until at least age 85. This model also reveals that subjective life expectancy is lowest among people whose same-sex parent died between ages 51 and 65.

Courtesy of Benefits and Pensions Monitor website News Alerts

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