Almost of half retirees and pre-retirees in the U.S. underestimate average life expectancy, according to a new report.
The Society of Actuaries published this finding in a summary of results from its "2012 Risks and Process of Retirement Survey." This sixth biennial study, conducted on the SOA's behalf by Mathew Greenwald Associates and the Employment Benefit Research Institute, asked respondents about their views respecting longevity risk.
Approximately four in 10 respondents (43 percent of retirees and 38 percent of pre-retirees) underestimate average life expectancy by five year or more, the report reveals. Another two in 10 underestimate it by two to four years.
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