Hedge funds have already spotted it: Jim Mellon’s latest book, Juvenescence, reviews the new science that will lengthen our lives by 20 years. Through regeneration (stem cell) and repair (DNA) technologies, we’ll soon be living healthily and happily to 110 or more. How soon? Who knows. But the repercussions will be enormous. Major insurance companies will go bust; speculators will make a fortune shorting them; 90-year-olds who bought annuities will become destitute when their annuity provider fails; there will have to be a total rethink of the nation’s state pension age.
The annuity recipients; those without savings; company pension funds (many of which are already in negative cash flow): all will be in trouble.