Information on which to base a reliable estimate of the average assumptions relating to longevity used in actuarial valuations of final salary pension schemes is not available. Some limited information about the assumptions used is available from the regulator's analysis of the first tranche of 1,292 scheme funding recovery plans, which was published on 26 September 2007. The assumptions about life expectancy at age 65 used in the majority of these recovery plans was 21.9 years for men and 24.8 years for women. This information only relates to schemes where a valuation was completed between September 2005 and April 2006, however, and is not a reliable indicator of the position for all schemes, or of the current behaviour of trustees in choosing assumptions about longevity now. It is not for the Government to tell trustees what assumptions to make on longevity.
On 18 February the pensions regulator published a consultation document inviting views on proposed new guidance for trustees on choosing the assumptions about longevity to be used in actuarial valuations of their scheme. The document reflects emerging evidence which suggests to the regulator that past allowances for future improvements in life expectancy have not always been adequately taken into account, and the consultation period will last until 12 May.