The Guides to Social Policy Law is a collection of publications designed to assist decision makers administering social policy law. The information contained in this publication is intended only as a guide to relevant legislation/policy. The information is accurate as at the date listed at the bottom of the page, but may be subject to change. To discuss individual circumstances please contact Services Australia.

4.9.5.48 Table of life expectancy - payments commenced on or after 01/01/2015 to 31/12/2019

Summary

The following table shows life expectancy factors used for calculating the relevant number for males and females. The factors are based on the 2010-12 life tables published by the AGA. This table starts at age 50. The full table can be obtained from the AGA or is available on the Publications page on the AGA website.

For products commencing on or after 1 January 2015 to 31 December 2019, life expectancy will be ascertained with reference to the 2010-12 ALT only (see below).

Example: Paul is 65 years of age on 5 January 2015. He purchases an account based income stream on 6 January 2015. For the purposes of applying the correct life expectancy to his income stream, his age is 65. From the table below his life expectancy is 19.22.

The relevant number is based on the income support recipient's, or reversionary beneficiary's age, at the beginning of the period to which the first income stream payment relates.

Age M F Age M F Age M F
50 32.20 35.67 70 15.31 17.80 90 4.21 4.82
51 31.29 34.74 71 14.56 16.98 91 3.92 4.45
52 30.38 33.80 72 13.83 16.18 92 3.66 4.12
53 29.49 32.87 73 13.11 15.38 93 3.44 3.82
54 28.59 31.95 74 12.40 14.60 94 3.24 3.55
55 27.71 31.02 75 11.72 13.83 95 3.06 3.32
56 26.83 30.10 76 11.05 13.08 96 2.91 3.11
57 25.95 29.19 77 10.41 12.33 97 2.78 2.93
58 25.09 28.28 78 9.78 11.61 98 2.67 2.77
59 24.22 27.37 79 9.18 10.90 99 2.57 2.62
60 23.37 26.47 80 8.60 10.21 100 2.46 2.50
61 22.52 25.57 81 8.04 9.55 101 2.36 2.38
62 21.68 24.68 82 7.51 8.90 102 2.27 2.27
63 20.85 23.80 83 7.00 8.29 103 2.19 2.17
64 20.03 22.92 84 6.52 7.70 104 2.11 2.08
65 19.22 22.05 85 6.06 7.14 105 2.03 2.00
66 18.41 21.18 86 5.64 6.61 106 1.96 1.92
67 17.62 20.33 87 5.24 6.11 107 1.90 1.85
68 16.84 19.48 88 4.87 5.65 108 1.84 1.79
69 16.07 18.64 89 4.52 5.22 109 1.79 1.73

Act reference: SSAct section 9(1)-'life expectancy', section 9(1)-'relevant number'

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