New figures published today by ONS reveal a bounce back in life expectancy in 2021-23 as the impact of the high mortality rates seen during the coronavirus pandemic reduces.
 
Commenting on the figures, Stephen Lowe, group communications director at retirement specialist Just Group, said: “Given the severity of the pandemic, we were always likely to see an improvement in life expectancy from the darkest days of 2020. It’s important to remember these period life expectancy figures are based on past death rates and assume these will remain constant into the future, which probably underplays the likely gains from healthcare improvements.
 
“Life expectancy at age 65 is 18.6 years for males and 21.1 years for females in England and Wales, just a whisker off their pre-coronavirus highs of 18.8 years for males and 21.2 years for females in 2017-19. Strong improvements between 1980 and 2010 have slowed so it remains to be seen whether the momentum can be sustained.
 
“It serves as a reminder that people nearing State Pension age should be planning to spend several decades in retirement. Half of us can expect to live beyond average life expectancy. The chances of living into your late 80s and 90s is probably a lot higher than most people think, particularly for women, so it is important to ask yourself how financially prepared you are for a long life.”