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Life expectancy in England and Wales shortens - research

FILE PHOTO: An elderly man walks in a park in London.

LONDON (Reuters) - Life expectancy for people in England and Wales aged 65 at the beginning of 2018 has shortened by two months compared with a year earlier, research showed on Thursday.

This was the same amount for men and women, according to data from the Institute and Faculty of Actuaries’ closely watched Continuous Mortality Investigation (CMI).

It did not say why life expectancy had shortened, but diabetes and obesity are generally among the issues blamed for a slowdown in improvements.

The CMI model is used by life insurers and pension schemes to help them calculate pension payments.

The research found that over the last six years, life expectancy has improved on average by 0.5 percent a year for men and by 0.1 percent for women.

“Mortality is expected to continue to improve, but the model suggests this is likely to be at a slower rate in the next few years than in the first decade of this century,” Tim Gordon, chairman of CMI Mortality Projections Committee, said in a statement.

The model is based on mortality data for the population of England and Wales, published by the Office for National Statistics.

Companies using data showing a slowing rise in life expectancy can wipe millions of pounds from their pension deficits.

Reporting by Carolyn Cohn; Editing by Angus MacSwan