Skip to comments.British pensioners to be told how long they have to live so they can manage savings
Posted on 04/18/2014 6:55:55 AM PDT by Loyalist
Pensioners will be given estimates of how long they have left to live to help them manage their savings, a minister has disclosed.
Steve Webb said that the Government wants to provide pensioners with a rough life expectancy when they reach retirement to allow them to make better financial decisions.
Experts will take into account factors including gender, where a pensioner lives or whether they smoke, the pensions minister said. Life expectancy should be part of guidance given to help people decide how much to save.
In last months Budget, George Osborne announced the scrapping of rules that force most Britons to use their pension savings to buy an annuity.
From next year it will be much easier and cheaper to withdraw money directly from a pension savings pot for other purposes.
But critics fear that people could end up struggling financially if they spend all their money soon after retiring.
(Excerpt) Read more at business.financialpost.com ...
Failing that, I foresee a future in which governments impose a solution similar to that devised by Harlan Ellison.
And if you don’t die by that date you’ll be given some help.
Actually, I’d really like to know. I want to be able to piss away every cent I have on worthless crap, like an EBT leech right on up until I die, leaving squat sh!t to the government.
red crystsl citizens please report to renewal center.
(beware the sandmen)
Of course the elites will be exempt from last day.
Coming to a country near you...
Are they planning on enforcing these “expiration dates” by taking these pensioners “off the shelf” (so to speak)?
Blast! I wasn’t fast enough to find the Carousel image first.
‘Experts will take into account ...’
Doesn’t that just make all the red flags go at once! I think these types are the ones who use the U word when they prognostications dont materialize. You know ‘unexpectedly’. Experts and statistics...
If you look in the IRS publications, you will find life expectancy tables at the end.
So who are the EXEMPT in England?
If the “Life Extension” people get their way, we are going to have to rethink the whole retirement/pension/social security system.
“According to our projections, you have exceeded your time limit as determined by the government. Therefore, we have brought the euthanasia truck here to insure conformity to our statistical models. What is important is that reality conform to our models.”
Why not do it in reverse, and terminate em once they run out of savings?