Phoenix Group launches think tank to assess impact of rising life expectancy

Phoenix Group has launched a new think tank, Phoenix Insights, to assess and provide research on the possibility of continued growth in life expectancy, and how it could impact society.

The think tank aims to “transform” the way society responds to the possibilities of longer lives.

Phoenix noted that average life expectancy had increased “significantly” over the past 20 years, and Phoenix Insights plans to investigate how society is structured and organised to support people aged 80 and above, and the gap in healthy life expectancy between the rich and poor.

It warned that although policies such as auto-enrolment and banning the default retirement age were “worthwhile measures”, they do not go far enough, and there is an urgent need for “radical reconsideration” of how society earns and lives.

The think tank’s first major piece of research will be publishing a ‘Financial Readiness Index’ in early 2022, which aims to provide a national picture of people’s financial preparedness for longer lives depending on different backgrounds, such as age, gender and location.

“Public engagement will be right at the heart of what we do and how we work,” Phoenix Insights stated.

“In our first major piece of public engagement, we are working with NatCen Research and The Policy Institute at King’s College London to explore with the public how we can live our longer lives well. This project will culminate in a two-day national summit in spring 2022.”

Research and policy specialist in longevity and ageing, Catherine Foot, will be the director of Phoenix Insights, while its expert advisory committee will include Baroness Camilla Cavendish, Rt Hon Amber Rudd, Lord Victor Adebowale, Professor Lynda Gratton, Professor Sarah Harper CBE and Baroness Ruby McGregor-Smith CBE.

The advisory committee will be chaired by Phoenix Group CEO, Andy Briggs.

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