Longevity risk is a major global issue that needs to be addressed as the repercussions are significant.
Longevity is the potential risk associated with the growing life expectancy of pensioners, meaning that people are not saving enough for retirement and outliving their assets. As a result, this leads to higher than expected pay-out-ratios for many pension funds and insurance companies.
Being highly aware of the issue and having worked in the actuarial space for over 16 years, I reached out to my strong network of industry leaders to get their stance on how longevity risk might be better mitigated.
And this is what they thought...