Insight into Stagnating Life Expectancy: Analysing Cause of Death Patterns across Socio-economic Groups

This article analyzes the complexity of female longevity improvements. As socio-economic status is found to influence health and mortality, we partition all individuals, at each age in every year, into five socio-economic groups based on an affluence measure that combine an individual’s income and wealth. We identify the particular socio-economic groups that have been driving the standstill for Danish females. Within each socio-economic group, we further analyze the cause of death patterns. The decline in life expectancy for Danish females is present for four out of five subgroups, however with particular large decreases for the low-middle and middle affluence groups. Cancers, smoking related causes, and other diseases particularly contribute to the stagnation. Moreover, cardiovascular and cerebrovascular diseases are found to be important for capturing the following catch-up in longevity

One size fits all: How many default funds does a pension scheme need?

In this paper, we analyse the number of default investment funds appropriate for an occupational defined contribution pension scheme. Using a unique dataset of member risk attitudes and characteristics from a survey of a large UK pension scheme, we apply cluster analysis to identify two distinct groups of members in their 40s and 50s. Further analysis indicated that the risk attitudes of the two groups were not significantly different, allowing us to conclude that a single lifestyle default fund is appropriate

Grouping Individual Investment Preferences in Retirement Savings: A Cluster Analysis of a USS Members Risk Attitude Survey

Cluster analysis is used to identify homogeneous groups of members of USS in terms of risk attitudes. There are two distinct clusters of members in their 40s and 50s. One had previously ‘engaged’ with USS by making additional voluntary contributions. It typically had higher pay, longer tenure, less interest in ethical investing, lower risk capacity, a higher percentage of males, and a higher percentage of academics than members of the ‘disengaged’ cluster. Conditioning only on the attitude to risk responses, there are 18 clusters, with similar but not identical membership, depending on which clustering method is used. The differences in risk aversion across the 18 clusters could be explained largely by differences in the percentage of females and the percentage of couples. Risk aversion increases as the percentage of females in the cluster increases, while it reduces as the percentage of couples increases because of greater risk sharing within the household. Characteristics that other studies have found important determinants of risk attitudes, such as age, income and (pension) wealth, do not turn out to be as significant for USS members. Further, despite being on average more highly educated than the general population, USS members are marginally more risk averse than the general population, controlling for salary, although the difference is not significant

The Impact of Covid-19 on Future Higher-Age Mortality

Covid-19 has predominantly affected mortality at high ages. It kills by inflaming and clogging the air sacs in the lungs, depriving the body of oxygen ‒ inducing hypoxia ‒ which closes down essential organs, in particular the heart, kidneys and liver, and causes blood clots (which can lead to stroke or pulmonary embolism) and neurological malfunction. Evidence from different countries points to the fact that people who die from Covid-19 are often, but not always, much less healthy than the average for their age group. This is true for England & Wales – the two countries we focus on in this study. The implication is that the years of life lost through early death are less than the average for each age group, with how much less being a source of considerable debate. We argue that many of those who die from coronavirus would have died anyway in the relatively near future due to their existing frailties or co-morbidities. We demonstrate how to capture this link to poorer-than-average health using a model in which individual deaths are ‘accelerated’ ahead of schedule due to Covid-19. The model structure and its parameterization build on the observation that Covid-19 mortality by age is approximately proportional to all-cause mortality. This, in combination with current predictions of total deaths, results in the important conclusion that, everything else being equal, the impact of Covid-19 on the mortality rates of the surviving population will be very modest. Specifically, the degree of anti-selection is likely to be very small, since the life expectancy of survivors does not increase by a significant amount over pre-pandemic levels. We also analyze the degree to which Covid-19 mortality varies with socio-economic status. Headline statistics suggest that the most deprived groups have been disproportionately affected by Covid-19. However, once we control for regional differences in mortality rates, Covid-19 deaths in both the most and least deprived groups are also proportional to the all-cause mortality of these groups. However, the groups in between have approximately 10-15% lower Covid-19 deaths compared with their all-cause mortality. We argue that useful lessons about the potential pattern of accelerated deaths from Covid-19 can be drawn from examining deaths from respiratory diseases, especially at different age ranges. We also argue that it is possible to draw useful lessons about volatility spikes in Covid-19 deaths from examining past seasonal flu epidemics. However, there is an important difference. Whereas the spikes in seasonal flu increase with age, our finding that Covid-19 death rates are approximately proportional to all-cause mortality suggests that any spike in Covid-19 mortality in percentage terms would be similar across all age ranges. Finally, we discuss some of the indirect consequences for future mortality of the pandemic and the ‘lockdown’ measures governments have imposed to contain it. For example, there is evidence that some surviving patients at all ages who needed intensive care could end up with a new impairment, such as organ damage, which will reduce their life expectancy. There is also evidence that many people in lockdown did not seek a timely medical assessment for a potential new illness, such as cancer, or deferred seeking treatment for an existing serious illness, with the consequence that non-Covid-19-related mortality rates could increase in future. Self-isolation during lockdown has contributed to an increase in alcohol and drug consumption by some people which might, in turn, reduce their life expectancy. If another consequence of the pandemic is a recession and/or an acceleration in job automation, resulting in long-term unemployment, then this could lead to so-called ‘deaths of despair’ in future. Other people, by contrast, might permanently change their social behaviour or seek treatments that delay the impact or onset of age-related diseases, one of the primary factors that make people more susceptible to the virus – both of which could have the effect of increasing their life expectancy. It is, however, too early to quantify these possibilities, although it is conceivable that these indirect consequences could have a bigger impact on future average life expectancy than the direct consequences measured by the accelerated deaths model

Water production in comet 81P/Wild 2 as determined by Herschel/HIFI

The high spectral resolution and sensitivity of Herschel/HIFI allows for the detection of multiple rotational water lines and accurate determinations of water production rates in comets. In this Letter we present HIFI observations of the fundamental 1_(10)–1_(01) (557 GHz) ortho and 1_(11)–0_(00) (1113 GHz) para rotational transitions of water in comet 81P/Wild 2 acquired in February 2010. We mapped the extent of the water line emission with five point scans. Line profiles are computed using excitation models which include excitation by collisions with electrons and neutrals and solar infrared radiation. We derive a mean water production rate of 1.0 × 10^(28) molecules s^(−1) at a heliocentric distance of 1.61 AU about 20 days before perihelion, in agreement with production rates measured from the ground using observations of the 18-cm OH lines. Furthermore, we constrain the electron density profile and gas kinetic temperature, and estimate the coma expansion velocity by fitting the water line shapes

HIFI observations of water in the atmosphere of comet C/2008 Q3 (Garradd)

High-resolution far-infrared and sub-millimetre spectroscopy of water lines is an important tool to understand the physical and chemical properties of cometary atmospheres.We present observations of several rotational ortho- and para-water transitions in comet C/2008 Q3 (Garradd) performed with HIFI on Herschel. These observations have provided the first detection of the 2_(12)−1_(01) (1669 GHz) ortho and 1_(11)−0_(00) (1113 GHz) para transitions of water in a cometary spectrum. In addition, the ground-state transition 1_(10)−1_(01) at 557 GHz is detected and mapped. By detecting several water lines quasi-simultaneously and mapping their emission we can constrain the excitation parameters in the coma. Synthetic line profiles are computed using excitation models which include excitation by collisions, solar infrared radiation, and radiation trapping. We obtain the gas kinetic temperature, constrain the electron density profile, and estimate the coma expansion velocity by analyzing the map and line shapes. We derive water production rates of 1.7−2.8 × 10^(28) s^(−1) over the range r_h = 1.83−1.85 AU