If you were wondering if there’s anything your smartphone can’t do, we’re now one step closer to the answer being a resounding ‘no’. Towers Watson U.K has just released an app that calculates life expectancy called TW LifeTime. The app, currently only available in the U.K, draws on the company’s research into mortality rates to calculate life expectancy based on age, gender and U.K postcode.
While the app is designed for use by individuals it could have value in the benefits world. As unpleasant as it might sound, if your employees are some of the 4.5 million Canadians with defined benefits pension plans, longevity could have a real impact. On a lighter note, the app also details factors that influence life expectancy - such as diet, income and smoking – by postcode, which may have value when planning wellness programs.
Vassoc Vassou, consultant at Towers Watson, says giving employees an idea of their life expectancy might can also help them plan for retirement.
“This is an important message for employees in those (defined benefit) schemes about true value so there is greater understanding when changes to it need to be made.”
The app allows users to share life expectancy information via Facebook, Twitter and LinkedIn and, through location services, can enable users to see how life expectancies vary across areas they pass through.
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