Money does count when it comes to
longevity – but it is not the only factor, reveals a study based on
UK data conducted by actuarial consultancy Hymans Robertson’s
pension scheme advisory unit, Club Vita. Also at play are factors
such as occupation, gender, lifestyle and retirement health.
Analysing data from the Office for
National Statistics and Scottish Neighbourhood Statistics, Club
Vita found that people living in Kensington and Chelsea live on
average the longest in the UK to 86.6, six years above the national
average of 79.6 years. Residents of the two London suburbs also
enjoy the second-highest average gross weekly income in the UK:
£1,113 ($1,710) compared with the national average of £650.
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At the other end of the scale,
Glasgow has the lowest life expectancy of anywhere in the UK at
just 74 years. Weekly household income is just £434 per week, the
ninth-lowest in the country.
“The link between high wealth and
increased life expectancy has been suspected, but our analysis
highlights the true extent of the longevity gap between the haves
and have-nots in society,” commented Club Vita’s CEO Nick Flint.
“Across the UK we’ve seen life expectancy increasing more slowly at
the lower end over the past 15 years and this trend looks set to
continue.”
However, the pattern across the UK
is not universal, with Club Vita finding several anomalies where
the direct link between affluence and life expectancy breaks down.
For example, those living in Mid- and West Wales go against the
trend with residents living to well above the UK average age
despite earning less than the UK average.
Conversely, much of South West
London enjoys high income, yet Club Vita found that life expectancy
levels are not universally as high as might be expected. Similarly,
those living in many London commuter towns also have a life
expectancy that is less than the national average for people
earning similar incomes.
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By GlobalData“Anomalies across the UK prove that
there are other key factors that play an important role in
determining how long people live,” said Flint. “Club Vita’s
analysis of pension schemes shows that for many people, it’s not
how much you earn, but how you choose to spend it that really
matters.”
Flint also noted that while a
significant gap remains between male and female life expectancies,
the gap is closing.
“Over the past three decades,
lifestyle improvements, particularly for men, have had a direct and
positive effect on life spans,” said Flint.
“From a historical perspective there’s scope for men to catch up
further. For example, it is only since World War II that the life
expectancy gap really opened up among pensioners.”
