This week’s #fridayfive presents the findings of new ILC-UK analysis which found high numeracy in old age is correlated with higher savings, better care planning, and even more sex!
- Only 1 in 4 English people aged 50+ can perform a simple compound interest calculation
- This includes only 1 in 3 men and 1 in 6 women
- Greater numeracy is associated with higher saving levels
- Those with greater numeric competence are also more likely to have planned for long-term care
- Surprisingly and perplexingly, older people who have good numeracy, tend to have sex more often than those who don’t.
Notes
Dr Cesira Urzì Brancati’s analysis of data from the English Longitudinal Study of Ageing (ELSA) was presented at the ILC-UK’s Second National Retirement Income Summit.
To read the analysis in full, please click here.
Read coverage of the analysis in The Telegraph, The Express, The Mail and The Times.