Actuarial Forum on Living to 100 Addresses Challenges Faced by an Aging Workforce

The Society of Actuaries (SOA) held their triennial symposium on high-age mortality and related issues--"Living to 100: Survival to Advanced Ages International Symposium"--and discussed, among other things, the growing challenges individuals face from increased life expectancy and rising healthcare costs and the new opportunities and challenges faced by employers and governments they respond to an aging population.

"The implication of longevity is a huge blindspot for employers, especially since many individuals are looking to retire at age 65 like their parents did before them," said presenter Valerie A. Paganelli, FSA, EA, MAAA, senior consulting actuary, Paganelli Consulting. "There is a major opportunity for employers to embrace and accommodate the aging workforce who are apt to need to work longer in life."

Pagnelli also said that employers can take the lead in helping individuals manage their resources over a longer period "by acting as intermediaries in helping aging employees remain in the workplace to reduce the risk of outliving their assets, which in turn would help strengthen the overall marketplace."

Handouts from the Symposiuim are available on SOA's website.

Source: Society of Actuaries Press Release (January 24, 2008)