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Retirement phase income streams

Life expectancy factors

Section: 16.13

The 2005-07 Australian Life Tables (Table 1) apply to pensions and annuities that were commenced between 1 January 2010 and 31 December 2014. Amongst other things, these life expectancy factors are used in the calculation of the annual non-assessable amount for social security purposes and the taxation deductible amount for ordinary money annuities.

The 2010-12 Australian Life Tables (Table 2) apply to pensions and annuities that commence from 1 January 2015. Amongst other things, these life expectancy factors are used in the calculation of the annual non-assessable amount for social security purposes (excluding account based income streams commenced from 1 January 2015 which are subject to deeming) and the taxation deductible amount for ordinary money annuities.

Table 1: Life expectancy table 2005-07

Age Males Females Age Males Females Age Males Females
0 79.02 83.67 37 43.55 47.60 74 11.96 14.27
1 78.44 83.04 38 42.60 46.63 75 11.31 13.51
2 77.47 82.07 39 41.66 45.66 76 10.68 12.78
3 76.49 81.08 40 40.71 44.70 77 10.07 12.05
4 75.50 80.10 41 39.77 43.73 78 9.48 11.35
5 74.51 79.11 42 38.83 42.77 79 8.92 10.67
6 73.52 78.11 43 37.89 41.81 80 8.38 10.01
7 72.53 77.12 44 36.96 40.85 81 7.86 9.37
8 71.54 76.13 45 36.03 39.90 82 7.36 8.75
9 70.55 75.14 46 35.10 38.95 83 6.89 8.17
10 69.55 74.14 47 34.18 38.00 84 6.45 7.61
11 68.56 73.15 48 33.26 37.05 85 6.03 7.08
12 67.57 72.15 49 32.34 36.11 86 5.64 6.58
13 66.58 71.16 50 31.43 35.17 87 5.27 6.11
14 65.58 70.16 51 30.53 34.24 88 4.94 5.68
15 64.59 69.17 52 29.69 33.31 89 4.63 5.28
16 63.61 68.19 53 28.73 32.38 90 4.36 4.91
17 62.63 67.20 54 27.84 31.45 91 4.11 4.57
18 61.66 66.22 55 26.95 30.53 92 3.89 4.27
19 60.71 65.24 56 26.08 29.61 93 3.69 3.99
20 59.75 64.25 57 25.20 28.70 94 3.51 3.75
21 58.80 63.27 58 24.34 27.79 95 3.36 3.53
22 57.84 62.29 59 23.48 26.89 96 3.22 3.33
23 56.88 61.31 60 22.63 26.00 97 3.10 3.16
24 55.93 60.32 61 21.79 25.11 98 2.99 3.00
25 54.97 59.34 62 20.96 24.23 99 2.90 2.86
26 54.02 58.36 63 20.14 23.35 100 2.81 2.74
27 53.06 57.38 64 19.34 22.48 101 2.73 2.63
28 52.11 56.40 65 18.54 21.62 102 2.66 2.54
29 51.16 55.42 66 17.76 20.76 103 2.60 2.46
30 50.20 54.44 67 16.99 19.92 104 2.54 2.38
31 49.25 53.46 68 16.24 19.08 105 2.49 2.32
32 48.30 52.48 69 15.49 18.24 106 2.44 2.26
33 47.35 51.50 70 14.76 17.42 107 2.40 2.20
34 46.40 50.52 71 10.04 16.61 108 2.35 2.15
35 45.45 49.55 72 13.33 15.82 109 2.30 2.09
36 44.50 48.58 73 12.64 15.03      

Source: Australian Government Actuary, Australian Life Tables 2005/07

Table 2: Life expectancy table 2010-12

Age Males Females Age Males Females Age Males Females
0 80.06 84.31 37 44.36 48.12 74 12.4 14.6
1 79.39 83.6 38 43.41 47.14 75 11.72 13.83
2 78.42 82.62 39 42.46 46.18 76 11.05 13.08
3 77.44 81.63 40 41.51 45.21 77 10.41 12.33
4 76.45 80.64 41 40.57 44.24 78 9.78 11.61
5 75.46 79.65 42 39.62 43.28 79 9.18 10.9
6 74.46 78.66 43 38.68 42.32 80 8.6 10.21
7 73.47 77.66 44 37.75 41.36 81 8.04 9.55
8 72.48 76.67 45 36.81 40.41 82 7.51 8.9
9 71.49 75.68 46 35.88 39.45 83 7 8.29
10 70.49 74.68 47 34.95 38.5 84 6.52 7.7
11 69.5 73.69 48 34.03 37.56 85 6.06 7.14
12 68.51 72.69 49 33.11 36.61 86 5.64 6.61
13 67.51 71.7 50 32.2 35.67 87 5.24 6.11
14 66.52 70.7 51 31.29 34.74 88 4.87 5.65
15 65.53 69.71 52 30.38 33.8 89 4.52 5.22
16 64.55 68.72 53 29.49 32.87 90 4.21 4.82
17 63.56 67.74 54 28.59 31.95 91 3.92 4.45
18 62.59 66.76 55 27.71 31.02 92 3.66 4.12
19 61.63 65.77 56 26.83 30.1 93 3.44 3.82
20 60.67 64.79 57 25.95 29.19 94 3.24 3.55
21 59.7 63.81 58 25.09 28.28 95 3.06 3.32
22 58.74 62.82 59 24.22 27.37 96 2.91 3.11
23 57.78 61.84 60 23.37 26.47 97 2.78 2.93
24 56.81 60.86 61 22.52 25.57 98 2.67 2.77
25 55.85 59.87 62 21.68 24.68 99 2.57 2.62
26 54.89 58.89 63 20.85 23.8 100 2.46 2.5
27 53.92 57.9 64 20.03 22.92 101 2.36 2.38
28 52.96 56.92 65 19.22 22.05 102 2.27 2.27
29 52 55.94 66 18.41 21.18 103 2.19 2.17
30 51.04 54.96 67 17.62 20.33 104 2.11 2.08
31 50.08 53.98 68 16.84 19.48 105 2.03 2
32 49.13 53 69 16.07 18.64 106 1.96 1.92
33 48.17 52.02 70 15.31 17.8 107 1.9 1.85
34 47.22 51.04 71 14.56 16.98 108 1.84 1.79
35 46.26 50.06 72 13.83 16.18 109 1.79 1.73
36 45.31 49.09 73 13.11 15.38      

Source: Australian Government Actuary, Australian Life Tables 2010/12.

Last modified: Thursday, August 24, 2017