Subjective expectations of survival and economic behaviour

Document type
Working Paper
Author(s)
O' Dea, Cormac; Sturrock, David
Publisher
Institute for Fiscal Studies
Date of publication
16 April 2018
Series
IFS Working Paper; W18/14
Subject(s)
Older Adults, Poverty Alleviation Welfare Benefits and Financial Inclusion, Education and Skills, Social Policy
Collection
Social welfare
Material type
Reports

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This paper investigates individuals’ expectations about their own survival to older ages and compares these to projected and actual survival rates. The extent to which individuals have, on average, reasonable expectations about survival to older ages is important in a context of increasing personal responsibility for, and control over, the accumulation and use of retirement savings.

It uses data from the English Longitudinal Study of Ageing, which surveyed a representative sample of the English household population aged 50 and over between 2002­–03 and 2014–15, and the ONS 2014-based life tables for England and Wales.

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