Life expectancy is on the rise once again according to the latest figures from the Office for National Statistics (ONS).
The research found that the North-South divide has widened as men in London can expect to live up to 14 years longer than those in Glasgow.
The ONS revealed that between 2008 and 2010, the average life expectancy for women rose by a year to 82.3, while for men it rose by 1.2 years to 78.2.
Life expectancy across the country was at its highest in Kensington and Chelsea, with the lowest in Glasgow. The gap between the rich and the poor appears to be growing deeper, which could cause concern for Northern based pensioners struggling to cope with the rising cost of living.
The south of the UK has higher rates of life expectancy than the north, with a shocking difference of 14 years. The ONS found that London had the highest rate of longevity as figures increased significantly, by 1.6 years for males and 1.3 for females.
The ONS reports that the high life expectancy average in the English capital is ìlikely to be due to a combination of factors, including the relative affluence of many parts of London.î
The general population is living for longer and this could have a serious impact on the finances of pensioners. Those approaching retirement are already feeling the squeeze during this difficult economic period. Life expectancy has been on the rise for decades and the government has tried to address this issue by raising the state pension age, much to the dismay of public sector workers.
Financial pressure is mounting on those who are living for longer but earning less later on in life. There are many options to consider when saving for retirement.
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As the population continues to enjoy a longer life, it could be wise to investigate extensive life insurance cover. As Brits grow older they are more likely to experience health problems and require subsequent medical attention.
Compare life insurance with Money Expert.