From Reuters
"Underestimate the elderly at your peril is the warning from the International Monetary Fund. Statisticians and economists may be downplaying the lengthening of the human lifespan. If they’re doing so by the same three years as in recent decades, the IMF reckons the cost of pensions and healthcare will be 50 percent higher than estimated. Something, almost certainly the age of retirement, will have to give.
Demographers keep expecting a slowdown in rising life expectancies that has yet to occur. In 1977 the British government was being guided by actuaries who predicted its citizens would be living to 71 on average by 2011. In fact, they now typically make it to 79. Estimates by rich-nation statisticians have generally fallen shy of actual life spans by around three years over the past several decades. Yet the number crunchers continue to forecast a stalling of the longevity escalator."
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