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Higher savings for retirement more important as life expectancy increases

Publicerad: 2022-09-21 Nästa publiceringsdatum: 2023-09-21

On average, we are living longer, that is, life expectancy is increasing in Sweden. If we do not also work longer, this means that pension payments will have to last for additional years and the annual pension will therefore be lower.

A woman born in 1995 having an occupational pension is expected to live for another 26 years after she reaches the age of 65, that is, until she turns 91. This is over two years longer than a woman born in 1956 having an occupational pension is expected to live after she reaches the age of 65. This means that a
woman born in 1995 must save more than a woman born in 1956 to receive the same annual pension, given the same retirement age and all other things being equal. For the corresponding groups of men, men born in 1995 are expected to live around three years longer than men born in 1956. The life expectancy of women going forward is estimated to be around two years higher than for men.

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