New Government scheme could see pensioners given ‘death estimates’

It’s not something anybody likes to think about, but pensioners could soon be getting told their estimated life expectancy in new government guidance.


by Jack White |
Published on

The plan to put an estimate on pensioners’ deaths is to make sure they can handle their money in a more efficient way.

Steve Webb, pensions minister, claimed that people might not have enough savings as they are not thinking about their life expectancy.

Gender, background and health will be taken into account when calculating the information, which could start to be given out in April next year.

Pensioners could start to receive the estimates next April
Pensioners could start to receive the estimates next April

Steve told the BBC: “We might think perhaps about how long our grandparents lived, and of course in the generation since then people are living a lot longer.

“Based on your gender, based on your age, perhaps asking one or two basic questions like whether you’ve smoked or not you can tell somebody that they might, on average, live for another 20 years or so.”

However, some experts have insisted that, if the guidance goes ahead, the information will need to be reviewed regularly as people’s circumstances could change.

Ros Altmann, an independent pensions expert, told a UK newspaper: “Unless you’ve got some process where you update the figure it becomes a bit meaningless.

“By the time five or 10 years have gone by, things can change by a big amount for a lot of people.”

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